Let X be a random variable representing the number of policies, a life insurance salesman sells per week. It is known that the salesman sells on the average 3 life insurance policies per week. 1. What model would you propose for X? Compute E(X) and V(X). 2. Calculate the probability that in a given week (a) he will sell 2 or more policies but less than 5 policies. (b) he will sell more than 2 policies. 3. Assuming that there are 5 working days per week, what is the probability that in a given day he will sell one policy?

Let X be a random variable representing the number of policies, a life insurance salesman sells per week. It is known that the salesman sells on the average 3 life insurance policies per week. 1. What model would you propose for X? Compute E(X) and V(X). 2. Calculate the probability that in a given week (a) he will sell 2 or more policies but less than 5 policies. (b) he will sell more than 2 policies. 3. Assuming that there are 5 working days per week, what is the probability that in a given day he will sell one policy?

Name: Let X be a random variable representing the number of policies, a lif
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Description: Let X be a random variable representing the number of policies, a life insurance salesman sellsper week. It is known that the salesman sells on the average 3 life insurance policies per week.1. What model would you propose for X? Compute E (X) and V

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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