Determine mean and standard deviation of daily sales

Reference no: EM13115558

A heavy-equipment sales-person can contact either one or two customers per day with probability 1/3 and 2/3, respectively. Each contact will result in either no sale or a $50,000 sale, with the probabilities .9 and .1, respectively. Give the probability distribution for daily sales. Find the mean and standard deviation of the daily sales.

Reference no: EM13115558

Questions Cloud

Equilibrium point for publishing company : A small publishing company is planning to publish a new book. The production costs will include one time fixed costs(such as editing) and variable costs( such as printing).

Probability trucks selected randomly get miles per gallon : What is the probability that one of these trucks selected at random would get a) between 13 and 15 miles per gallon? b) between 10 and 12 miles per gallon?

General journal entries for stringer company : Prepare the necessary general journal entries for the month of October for Stringer Company for each situation given below.

Would your answer change if you knew the sex of the child : What is the probability that a child born to Sheala and Zoltan would have at least one of the three diseases, cystuc fibrosis, DMD or thalassemis major?

Determine mean and standard deviation of daily sales : Each contact will result in either no sale or a $50,000 sale, with the probabilities .9 and .1, respectively. Give the probability distribution for daily sales. Find the mean and standard deviation of the daily sales.

Calculating the probability of die : The probability of throwing any two numbers on a die - say, either a 1 or a 2 - on a single throw is one chance out of three, or 33%.

Explain system designers proper training : Have you ever been part of a new system implementation? If so, how did it go? Did the system designers provide proper training? How much documentation was provided?

To what pressure should you fill the acetylene tank : Imagine that you have a 6.50L gas tank and a 2.50L gas tank. You need to fill one tank with oxygen and the other with acetylene to use in conjunction with your welding torch.

What is the mass of the steel bar : 95.0mL of rm H_2O is initially at room temperature (22.0rm{} ^{circ}C). A chilled steel rod at 2.0rm ^{circ}C is placed in the water. If the final temperature of the system is 21.4^{circ}C.

User Account

All Pages