Stats Solutions

[Step-by-Step] Number of Credit Cards A bank vice president feels that each savings account customer has, on average, three credit cards. The following

Question: Number of Credit Cards A bank vice president feels that each savings account customer has, on average, three credit cards. The following distribution represents the number of credit cards people won. Find the mean, variance, and standard deviation. Is the vice president correct?

Number of Credit Cards X 0 1 2 3 4
Probability P(X) 0.18 0.44 0.27 0.08 0.03

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