Allocating a random variable

Reference no: EM1321646

Q1) Recent survey of 50 executives who were laid off from their previous position disclosed it took a mean of 26 weeks for them to determine another position. Standard deviation of sample was 6.2 weeks. Create a 95 percent confidence interval for population mean. Is it sensible that population mean is 28 weeks? give explanation for your answer.

Q2) Telemarketer with B2B Communications has 20% historical probability of making a sale in a shift where 100 calls were made. Allocate a random variable x, where value of x is equal to number of sales made during shift. Explain probability distribution of x, and compute the probability of employee making exactly 28 sales during 100-call shift. Determine the probability that employee will make less than 28 sales in the 100-call shift? Determine the probability that employee will make 28 or more sales during 100-call shift?

Questions

i) Allocate a Random Variable x

ii) Explain the Distribution

iii) Compute Probability of Exactly 28 Sales

iv) Compute Probability of Less Than 28 Sales

v) Compute Probability of 28 or More Sales

Reference no: EM1321646

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