Determine mean and standard deviation of daily sales

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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

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