Small Business Jobs. According to the U.S. Small Business Administration, small businesses provide 75% of the net new jobs added to the economy. Consider a random sample of 10 new jobs. Let represent the number of the new jobs added to the economy that are provided by small businesses. Use this information for Exercises 71–79.

Question 6.172

74. Find the following parameters of the binomial distribution for this experiment. Interpret the mean and standard deviation.

  1. Mean
  2. Variance
  3. Standard deviation