1. A real estate agent's rate of success to make a sale among his customers is 20%. In a normal workweek, he can make a sales presentation to 25 customers. Let Y be the number of customers who will make a sale. a. Identify the parameters of the problem. (Type in the notation of the correct probability distribution.) b. Determine the expected value of sales for the week. c. Determine the variance for the sales for the week. d. Solve for the probability that exactly 10 customers will make a sale.
1. A real estate agent's rate of success to make a sale among his customers is 20%. In a normal workweek, he can make a sales presentation to 25 customers. Let Y be the number of customers who will make a sale. a. Identify the parameters of the problem. (Type in the notation of the correct probability distribution.) b. Determine the expected value of sales for the week. c. Determine the variance for the sales for the week. d. Solve for the probability that exactly 10 customers will make a sale.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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