(i) What is the mean number of cards held by a person from this group? (ii) What is the variance of the number of cards held by a person from this group?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...
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part ii

(f) The table below shows, for a group of credit card holders with one to three cards, the
joint probabilities for number of cards owned (X) and number of credit purchases
made in a week (Y).
Number
Number of Purchases in Week (Y)
Of Cards (X)
1
3
4
1
0.08
0.13
0.09
0.06
0.03
2
0.03
0.08
0.08
0.09
0.07
3
0.01
0.03
0.06
0.08
0.08
(i) What is the mean number of cards held by a person from this group?
(ii) What is the variance of the number of cards held by a person from this group?
Transcribed Image Text:(f) The table below shows, for a group of credit card holders with one to three cards, the joint probabilities for number of cards owned (X) and number of credit purchases made in a week (Y). Number Number of Purchases in Week (Y) Of Cards (X) 1 3 4 1 0.08 0.13 0.09 0.06 0.03 2 0.03 0.08 0.08 0.09 0.07 3 0.01 0.03 0.06 0.08 0.08 (i) What is the mean number of cards held by a person from this group? (ii) What is the variance of the number of cards held by a person from this group?
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