Probability distribution of the number of sales, Applied Statistics

Assignment Help:

A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with probability .6 and $200 with probability .4. Assume that the salesperson visits five houses on a given day.

Problem 1. What is the probability that she makes exactly two sales?

Problem 2. What is the probability that she sells exactly $100 worth of knives?

Problem 3. Given that exactly two visits (out of the five) are sales, find

(a) the probability distribution of her sales value

(b) the expected sales value

(c) the variance and standard deviation of her sales value

Problem. Given that she has sales volume of exactly $200, find

(a) the probability distribution of the number of sales that she makes

(b) the expected number of sales that she makes?


Related Discussions:- Probability distribution of the number of sales

Time series, what is the use of applied statistic in our daily routin life

what is the use of applied statistic in our daily routin life

Difference in goals between pca and fa, In PCA the eigknvalues must ultimat...

In PCA the eigknvalues must ultimately account for all of the variance. There is no probability,'no hypothesis, no test because strictly speaking PCA is not a statistical procedure

Skewness, Skewness Meaning and Definition  Literal meaning of skew...

Skewness Meaning and Definition  Literal meaning of skewness is lack of symmetry; it is a numerical measure which reveals asymmetry of a statistical series. According t

Ogive graphs, how many types of ogive are there

how many types of ogive are there

Evaluate gross reproduction rate, Evaluate Gross Reproduction Rate: Fr...

Evaluate Gross Reproduction Rate: From the data given below compute : i)   General  Fertility  Rate ii)  Specific  Fertility  Rate iii)  Total  Fertility  Rate iv)

Calculate the ratio of the sample standard deviation, The Case Study includ...

The Case Study included information about the price for a full meal before and after the law change (in dollars).  Of interest is whether the differences in price for a full meal b

#title., Features of index numbers

Features of index numbers

Simple linear regression, We are interested in assessing the effects of tem...

We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that

Geometric mean, Geometric Mean is defined as the n th root of the ...

Geometric Mean is defined as the n th root of the product of numbers to be averaged. The geometric mean of numbers X 1 , X 2 , X 3 .....X n is given as

student is chosen randomly, In a management class of 100 childerns' 3 lang...

In a management class of 100 childerns' 3 languages are offered as an additional subject viz. Hindi, English and Kannada. There are 28 childrens taking Hindi, 26 taking Hindi and 1

Write Your Message!

Captcha
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