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.Identify the parameters of the problem. Type in the notation of the correct probability distributionDetermine the expected value of sales for the week. Determine the variance for the sales for the week.Solve for the probability that exactly 10 customers will make a sale.

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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.

Identify the parameters of the problem.

Type in the notation of the correct probability distribution
Determine the expected value of sales for the week.
Determine the variance for the sales for the week.
Solve for the probability that exactly 10 customers will make a sale.

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