A marketing firm is considering making up to three new hires. Given its specific needs, the...

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A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 40% chance of hiring at least two candidates. There is only a 5% chance that it will not make any hires and a 12% chance that it will make all three hires. a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.) Probability 0.95 b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal places. Round your final answers to 2 decimal places.) A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 40% chance of hiring at least two candidates. There is only a 5% chance that it will not make any hires and a 12% chance that it will make all three hires. a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.) Probability 0.95 b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal places. Round your final answers to 2 decimal places.)

Answer rating: 100% (QA)

Heres the breakdown of the probabilities and calculations for the marketing firms hiring sc... View the full answer