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The success rate a salesman may achieve through cold calling will largely depend on the approach they take. According to Charlie Cook, author and marketing consultant, conversion rates for cold calls usually fall in the 2 percent range, while referrals may have a 50 percent conversion and solid leads may have a 21 percent conversion. A group of salesmen was assigned to pursue 100 "solid leads" during the period of a week. • Let X be the number of sales generated from 100 "solid leads". Describe the distribution of X and its parameters: X-B • Use the random variable notation to symbolically express the probability that at least 19 sales will be generated from 100 "solid leads": (n = 100 P(Xz19) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y~N • Use the correction for continuity: = 21 • Use the random variable notation to symbolically express the approximate probability that at least 19 sales will be generated from 100 "solid leads": Select an answer ✓ Select an answer P(Y<19) P(Y>19) P = 0.21 Select an answer Select an answer P(Y>19.5) P(Y>18.5) P(Y<19.5) P(Y<18.5) • Find the probability (round the answer to 4 decimal places): 4.07

The success rate a salesman may achieve through cold calling will largely depend on the approach they take. According to Charlie Cook, author and marketing consultant, conversion rates for cold calls usually fall in the 2 percent range, while referrals may have a 50 percent conversion and solid leads may have a 21 percent conversion. A group of salesmen was assigned to pursue 100 "solid leads" during the period of a week. • Let X be the number of sales generated from 100 "solid leads". Describe the distribution of X and its parameters: X-B • Use the random variable notation to symbolically express the probability that at least 19 sales will be generated from 100 "solid leads": (n = 100 P(Xz19) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): Y~N • Use the correction for continuity: = 21 • Use the random variable notation to symbolically express the approximate probability that at least 19 sales will be generated from 100 "solid leads": Select an answer ✓ Select an answer P(Y<19) P(Y>19) P = 0.21 Select an answer Select an answer P(Y>19.5) P(Y>18.5) P(Y<19.5) P(Y<18.5) • Find the probability (round the answer to 4 decimal places): 4.07

MATLAB: An Introduction with Applications
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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Question 5 The success rate a salesman may achieve through cold calling will largely depend on the approach they take. According to Charlie Cook, author and marketing consultant, conversion rates for cold calls usually fall in the 2 percent range, while referrals may have a 50 percent conversion and solid leads may have a 21 percent conversion. A group of salesmen was assigned to pursue 100 "solid leads" during the period of a week. • Let X be the number of sales generated from 100 "solid leads". Describe the distribution of X and its parameters: X B ✓✓(n=100 • Use the random variable notation to symbolically express the probability that at least 19 sales will be generated from 100 "solid leads": Y~N P(Xz19) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): • Use the correction for continuity: ✓ ✓ (μ = 21 • Use the random variable notation to symbolically express the approximate probability that at least 19 sales will be generated from 100 "solid leads": Select an answer ✓ Select an answer P(Y<19) P(Y>19) P = 0.21 Select an answer ✓ Select an answer P(Y>19.5) P(Y>18.5) P(Y<19.5) P(Y<18.5) • Find the probability (round the answer to 4 decimal places): o 4.07
Transcribed Image Text:Question 5 The success rate a salesman may achieve through cold calling will largely depend on the approach they take. According to Charlie Cook, author and marketing consultant, conversion rates for cold calls usually fall in the 2 percent range, while referrals may have a 50 percent conversion and solid leads may have a 21 percent conversion. A group of salesmen was assigned to pursue 100 "solid leads" during the period of a week. • Let X be the number of sales generated from 100 "solid leads". Describe the distribution of X and its parameters: X B ✓✓(n=100 • Use the random variable notation to symbolically express the probability that at least 19 sales will be generated from 100 "solid leads": Y~N P(Xz19) • Let Y be a normal variable that will be used to approximate the probability in question. Find the parameters of Y (round the answers to 2 decimal places): • Use the correction for continuity: ✓ ✓ (μ = 21 • Use the random variable notation to symbolically express the approximate probability that at least 19 sales will be generated from 100 "solid leads": Select an answer ✓ Select an answer P(Y<19) P(Y>19) P = 0.21 Select an answer ✓ Select an answer P(Y>19.5) P(Y>18.5) P(Y<19.5) P(Y<18.5) • Find the probability (round the answer to 4 decimal places): o 4.07
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