Geometric Distribution: Mean and Variance In Exercises 29 and 30, use the fact that the mean of a geometric distribution is μ = 1/p and the variance is
sigma^2 = q/p^2
Paycheck Errors A company assumes that 0.5% of the paychecks for a year were calculated incorrectly. The company has 200 employees and examines the payroll records from one month. (a) Find the mean, variance, and standard deviation. (b) How many employee payroll records would you expect to examine before finding one with an error?