A major application of analytics in marketing is determining the attrition of customers. Suppose that the probability

Question:

A major application of analytics in marketing is determining the attrition of customers. Suppose that the probability of a long distance carrier’s customer leaving for another carrier from one month to the next is 0.12. What distribution models the retention of an individual customer? What is the expected value and standard deviation?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...