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This is Quanitative Analysis of Management class Leaders of a local club want to focus on recruiting and looked through their recruiting and...
This is Quanitative Analysis of Management class
Leaders of a local club want to focus on recruiting and looked through their recruiting and membership paperwork. They
realized that over the past 30 years of annual open-house events, they spoke to four people who were interested enough in
joining to take an application packet home. The historical probability P(X) that the interested prospective members would join
0 join: 0.1
1 join: 0.2
2 join: 0.4
3 join: 0.2
4 join: 0.1
When they hold an open house this year, how many members (what is the expected value) should they anticipate joining?
Explain your approach to determining the number of expected new members in a three-page response. Be sure to research
sources to support your ideas, and integrate your sources using