Question

The publishers of a business magazine are running sales promotions for the weekly magazine. The number of prospective customers a sales representative sees per day varies 1 to 40. If the sales representative is able to her 20% of the prospective customers to subscribe, the maximum expected number of subscriptions per week is .if the sales representative earns $3 per subscription in addition to daily wages, the minimum expected value of the extra income per week is .

Answer 1

Answer:

the maximum expected number of subscriptions per week is

• 34 subscriptions

the minimum expected value of the extra income per week is

• $94.20

Step-by-step explanation:

number of sales visits per day 1 - 40

success rate in closing sales 20%

total visits per week:

• week 1 = 20 + 22 + 27 + 17 + 31 + 12 + 39 = 168
• week 2 = 26 + 13 + 30 + 18 + 24 + 14 + 32 = 157
• week 3 = 21 + 12 + 22 + 37 + 30 + 23 + 18 = 163
• week 4 = 15 + 33 + 10 + 28 + 34 + 24 + 22 = 166
• week 5 = 11 + 33 + 21 + 32 + 26 + 19 + 22 = 164
• week 6 = 19 + 27 + 20 + 18 + 31 + 14 + 37 = 166
• week 7 = 29 + 22 + 27 + 30 + 16 + 9 + 36 = 159
• week 8 = 8 + 28 + 19 + 28 + 25 + 36 + 26 = 170

estimated sales per week:

• week 1 = 168 x 20% = 33.6
• week 2 = 157 x 20% = 31.4
• week 3 = 163 x 20% = 32.6
• week 4 = 166 x 20% = 33.2
• week 5 = 164 x 20% = 32.8
• week 6 = 166 x 20% = 33..2
• week 7 = 159 x 20% = 31.8
• week 8 = 170 x 20% = 34

extra income per week:

• week 1 = 33.6 x $3 = $100.80
• week 2 = 31.4 x $3 = $94.20
• week 3 = 32.6 x $3 = $97.80
• week 4 = 33.2 x $3 = $99.60
• week 5 = 32.8 x $3 = $98.40
• week 6 = 33.2 x $3 = $99.60
• week 7 = 31.8 x $3 = $95.40
• week 8 = 34 x $3 = $102