Statistics that help describe, summarize, and present information extracted from data. Descriptive statistics include concepts related to measures of central tendency, measures of variability, measures of frequency, shape of distribution, and some data visualization techniques/tools such as pivot tables, charts, and graphs.
Chapter 6.1, Problem 35AYU
(a)
To determine
The mean number of credit cards based on the raw data.
(b)
To determine
The standard deviation number of credit cards based on the raw data.
(c)
To determine
The probability distribution for the random variable X .
(d)
To determine
To draw: The probability plot.
To determine
To identify: The shape of the distribution.
(e)
To determine
The mean number of credit cards from the probability distribution found in part (c).
To determine
The standard deviation number of credit cards from the probability distribution found in part (c).
(f)
To determine
The probability of randomly selecting an individual whose number of credit cards is more than two standard deviations from the mean.
To determine
Whether the probability is unusual.
(g)
To determine
The probability of randomly selecting two individuals who are issued exactly 2 credit cards.
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