Jack agrees to sell Tyler his pocketknife for 3 baseball cards. Tyler sells his soccer ball for 2 baseball cards. In what way ar
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Answer:
(a) The probability the salesperson will make exactly two sales in a day is 0.1488.
(b) The probability the salesperson will make at least two sales in a day is 0.1869.
(c) The percentage of days the salesperson does not makes a sale is 43.05%.
(d) The expected number of sales per day is 0.80.
Step-by-step explanation:
Let <em>X</em> = number of sales made by the salesperson.
The probability that a potential customer makes a purchase is 0.10.
The salesperson contacts <em>n</em> = 8 potential customers per day.
The random variable <em>X</em> follows a Binomial distribution with parameters <em>n</em> and <em>p</em>.
The probability mass function of <em>X</em> is:
(a)
Compute the probability the salesperson will make exactly two sales in a day as follows:
Thus, the probability the salesperson will make exactly two sales in a day is 0.1488.
(b)
Compute the probability the salesperson will make at least two sales in a day as follows:
P (X ≥ 2) = 1 - P (X < 2)
= 1 - P (X = 0) - P (X = 1)
Thus, the probability the salesperson will make at least two sales in a day is 0.1869.
(c)
Compute the probability that a salesperson does not makes a sale is:
The percentage of days the salesperson does not makes a sale is,
0.4305 × 100 = 43.05%
Thus, the percentage of days the salesperson does not makes a sale is 43.05%.
(d)
Compute the expected number of sales per day as follows:
Thus, the expected number of sales per day is 0.80.