1. A bakery has the following probability distribution for the daily demand for its cakes: Find the expectation, variance and the standard deviation of the daily demand for cakes. 2. A major application of data mining in marketing is determining the attrition of customers. Suppose that the probability of a long‐distance carrier’s customer leaving for another carrier from one month to the next is 0.15. What distribution models the retention of an individual customer? What is the expected value and standard deviation?
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