A marketing firm is considering making up to three new hires. Given its specific needs, the management feels that there is a 60% chance of hiring at least two candidates. There is only a 6% chance that it will not make any hires and a 16% chance that it will make all
three hires.
a. What is the probability that the firm will make at least one hire? (Round your answer to 2 decimal places.)
Probability
0.95
b. Find the expected value and the standard deviation of the number of hires. (Round intermediate calculations to at least 4 decimal
places. Round your final answers to 2 decimal places.)
Expected value
Standard deviation