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gradds
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" A contractor has recently purchased a new bulldozer. On previous jobs, 15 out of a total of 50 bulldozers have broken down before the end of the job.
What is the mean and standard deviation of the probability distribution describing the probability of failure of a bulldozer?
Note: assume a normal approximation is applicable."
Mean of the probablity distribution seems obvious (0.3), but how does one find the standard deviation??
Thanks for any help that can be offered.
What is the mean and standard deviation of the probability distribution describing the probability of failure of a bulldozer?
Note: assume a normal approximation is applicable."
Mean of the probablity distribution seems obvious (0.3), but how does one find the standard deviation??
Thanks for any help that can be offered.