The manager of an electronics company conducted a study on the estimated annual profit that the business could earn, in line with its plan to launch a new product to the market. According to the results, the company could earn an annual profit of PHP 6.7 million if aggressive selling is applied; PHP 4.9 million could be the profit if the manner of selling is normal; and a loss of PHP 1.3 million if selling is easygoing. Assuming that there are 17 aggressive sales agents, 27 average agents, and 9 lazy sales agents, what is the standard deviation?

The manager of an electronics company conducted a study on the estimated annual profit that the business could earn, in line with its plan to launch a new product to the market. According to the results, the company could earn an annual profit of PHP 6.7 million if aggressive selling is applied; PHP 4.9 million could be the profit if the manner of selling is normal; and a loss of PHP 1.3 million if selling is easygoing. Assuming that there are 17 aggressive sales agents, 27 average agents, and 9 lazy sales agents, what is the standard deviation?

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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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Concept explainers

Inverse Normal Distribution

The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.

Mean, Median, Mode

It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.

Z-Scores

A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.

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