the probability is 0.6 that a person shopping at a certian store will spend less than $20. For group of size 19, find the mean number who spend less then $20.
To find the mean number of people who spend less than $20 in a group of size 19, we need to multiply the probability of an individual person spending less than $20 by the total number of people in the group.
Given that the probability is 0.6 that a person will spend less than $20, we can consider this as the probability of success (p).
Now, the mean, denoted by μ (mu), of a binomial distribution is calculated by multiplying the number of trials (n) by the probability of success (p). In this case, the number of trials is the size of the group, which is 19 (n=19).
So, the mean number of people who spend less than $20 can be calculated as:
Mean (μ) = n * p
Substituting in the given values:
Mean (μ) = 19 * 0.6
Mean (μ) = 11.4
Therefore, the mean number of people in the group who spend less than $20 is 11.4.