Question

A company wants to evaluate its attrition rate, in other words, how long new hires with the company. Over the years, they have established the following probability distribution.
Let X = the number of years a new hire will stay with the company.
Let P(x) = the probability that a new hire will stay with the company x years.
1. Complete Table using the data provided.
x p(x)
0 0.12
1 0.18
2 0.30
3 0.15
4
5 0.10
6 0.05
2. P(x = 4) = _________
3. P(x ≥5) = __________
4. On average, how long would you expect a new hire to stay with the company?

Answer 1

Answer:

2.) 0.10 (3.) 0.10 (4.) 2.43

Step-by-step explanation:

Given that:

x p(x)

0 0.12

1 0.18

2 0.30

3 0.15

4

5 0.10

6 0.05

X : __0__ 1 ___ 2 ___ 3 _____ 4 ____ 5 ____ 6

p(x):0.12_0.18_0.30_0.15__0.10___0.10 ___0.05

Σ of p(x) = 1

(0.12 + 0.18 + 0.30 + 0.15 + x + 0.10 + 0.05) = 1

0.9 + x = 1

x = 1 - 0.9

x = 0.1

2.)

P(x = 4) = 0.10

3.)

P(x = 5) = 0.10

4.)

Σ(x * p(x)) :

(0*0.12) + (1*0.18) + (2*0.3) + (3*0.15) + (4*0.1) + (5*0.1) + (6*0.05) = 2.43