Probability salesperson will make exactly two sales in a day

Assignment Help Basic Statistics
Reference no: EM13133493

A salesperson contacts eight potential customers per day. From past experience, we know that the probability of a potential customer making a purchase is .10.

a. What is the probability the salesperson will make exactly two sales in a day?
b. What is the probability the salesperson will make at least two sales in a day?
c. What is the probability that the salesperson will make no sales in a day?
d. What is the average number of sales per day?

Reference no: EM13133493

Questions Cloud

What is activity-based costing : What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method?
Linear alegbra-vector space : Given that with these definitions, V satisfies vector space axioms 1,2,3,6,8,9,and 10 determine whether or not V is a vector space by checking to see if axioms 4,5,7,are also satisfied.
Determine the pension expense to be reported : Determine the pension expense to be reported in 2011. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2011.
Payout ratio of a firm : Considering other things are held constant...how do each of the following three scenarios would affect the payout ratio of a firm?
Probability salesperson will make exactly two sales in a day : A salesperson contacts eight potential customers per day. From past experience, we know that the probability of a potential customer making a purchase is .10. What is the probability the salesperson will make exactly two sales in a day?
Bond premium and interest payment has been made : Prepare the entry to record the conversion on October 1, 2011. Assume that the entry to record amortization of the bond premium and interest payment has been made.
What is the total pressure in the flask : A 1.30 g sample of dry ice is added to a 745 mL flask containing nitrogen gas at a temperature of 25.0 degrees Celcius and a pressure of 715 mmHg.
What is the value of the ending inventory as determined : Inventory valuation methods allow management to select a method that best fits their business model. Given the following data, what is the value of the ending inventory as determined by the First in First out (FIFO) method?
Determining vector-gradient : The temperature of a plate at the point (x,y) is given by T(x,y) = 300+ 3x^2 -2y^2. A heat hating ant is located at the point (3,2).

Reviews

Write a Review

Basic Statistics Questions & Answers

  Determining percentile rank

For the 20 test scores shown, find the percentile rank for a score of 86.

  Global warming survey

Is there solid evidence that the earth is getting warming? 69% of 731 male resondents answered yes and 70% of 770 female respondents answered yes.

  Tree diagram to show all possible outcomes

Draw a tree diagram to show all possible outcomes of the experiment. Label the probability associated with each stage of the experiment on the appropriate branch.

  Probability of obtaining a sample mean

The population of IQ scores forms a normal distribution with mean of μ = 100 and a standard deviation of σ = 15. What is the probability of obtaining a sample mean greater than M = 105,

  Gender equity experiment-probability to estimate

A company will promote two employees out of a group of six men and three women, what would you say the chances of this experiment if there is particular concern about gender equity and which concept of probability would you use to estimate these p..

  Population regression function

What if the assumption E[u/x]=0 is not satisfied? Illustrate using an example. Explain the relationship represented by a population regression function.

  What is the estimate of the overall proportion

We want to know if his support has decreased. In computing a test of hypothesis with , what is the estimate of the overall proportion?

  Explain confidence interval estimate of true bmi

Body mass index is measured as the ratio of weight in kilograms to height in meters squared. Generate a 95% confidence interval estimate of the true BMI.

  Descriptive statistics-determining the mean using given data

Find out the mean to the nearest whole number, for the following list of numbers: 20, 43, 67, 52, 67, 44, 62, 90, 21, 19, 15

  How to conclude tha stocks have a different variation

Mr. Smith had 11 stocks that averaged 11.3 percent with a standard deviation of 3.2 percent. At the .02 level of significance, can we conclude that Mr. Jones' stocks have a different variation?

  Subsiquent data which represents demand for company

Compare 2 moving averages using MSE and compute Exponential smoothing. The subsiquent data which  represents demand for company ABC's products for the last 10 months.

  Calculate the mean difference for the data

Calculate the mean difference for the following data. The scores are the number of pictures the participants remembered correctly out of 20.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd