The Probability Function for the Number of Insurance Policies John

question 36

Essay

The probability function for the number of insurance policies John will sell to a customer is given by
f(X) = .5 - (X/6) for X = 0, 1, or 2
a.Is this a valid probability function? Explain your answer.
b.What is the probability that John will sell exactly 2 policies to a customer?
c.What is the probability that John will sell at least 2 policies to a customer?
d.What is the expected number of policies John will sell?
e.What is the variance of the number of policies John will sell?

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Definitions:

Jo Ann Robinson

An American civil rights activist and educator best known for her role in the Montgomery Bus Boycott of 1955.

Middle-Class Norms

Social expectations and behaviors typically associated with the middle class, including values related to education, occupation, and lifestyle.

Brown V. Board

The 1954 United States Supreme Court decision that declared state laws establishing separate public schools for black and white students to be unconstitutional.

Kitchen Debate

A series of informal exchanges in 1959 between U.S. Vice President Richard Nixon and Soviet Premier Nikita Khrushchev, highlighting the ideological differences between the U.S. and the Soviet Union.