Office attendance, electricity costs and defective LED sensors
A small business has four people working full-time. The business rents an office, and on most days some people work from home.
On any given workday, the number of people working in the office can be modelled by the discrete random variable, , with the following probability distribution.
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Find , the expected value for the number of people working in the office.
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Find the probability that all four people are working in the office, given that at least two people are working in the office.
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In a fortnight with ten workdays, find the probability that all four people are working in the office on at least three days.
Write your answer correct to four decimal places.
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The business owner is trying to find ways to reduce costs.
Her daily electricity costs, in dollars, can be modelled using a continuous random variable, , which has the probability density function
Identify the maximum daily electricity cost, in dollars, for this small business.
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Find the mean daily electricity cost, in dollars.
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Find the probability that, on a given day, the electricity cost is within two standard deviations of the mean.
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