Find the mean and standard deviation of the daily sales

Reference no: EM13124707

A heavy equipment salesperson 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: EM13124707

Questions Cloud

Internet antivirus software : Devise a list of deliverables and a timeline- take into account different time zones, formats, expectations, etc. How will you deal with different cultural beliefs related to the concept of time, teamwork, authority, and perception of deadlines

Which of the two reactants will be left over : If 20.0 mL of 0.12 M cobalt(II) nitrate is reacted with 15.13 mL of 0.097 M sodium phosphate, which of the two reactants will be left over and which will be completely consumed.

How would that revenue be measured : Change of mind gives gallery a $1m surprise' and determine whether the gallery should treat the donation as revenue. Further, if the donation is treated as revenue, how would that revenue be measured?

Graph the bond yield to maturity : Identify two possibly mispriced bond issues, one overpriced and one underpriced. and graph the bond yield to maturity (YTM) on the y-axis of an XY-scatter plot, with the bond to maturity in years on the x-axis.

Find the mean and standard deviation of the daily sales : The probabilities .9 and .1 respectively. Give the probability distribution for daily sales. Find the mean and standard deviation of the daily sales.

Effect of the intra-entity sale : Senior sold all of these goods in 2011. How should Perez report the effect of the intra-entity sale on its 2011 income statement?

How to specific country or region of the world : Thus far in class we've talked about many interesting topics in international accounting including international accounting standards, the history of accounting, IFRS vs. US GAAP, the FASB Codification, convergence, harmonization, foreign currency..

Illustrate what is the amount of owner equity : Illustrate what is the amount of owner's equity as of July 1 of the current year?

How large a sample taken not to exceed value : Assume that a 95% confidence interval estimate of the new annual starting salary is desired. How large a sample should be taken if we do not want to exceed $500? What do you know?

User Account

All Pages