Answer to Question #146204 in Statistics and Probability for madiha

Question

Assume that a real estate manager has 5 contacts per week, and she believes that for each contact the probability of making a sale is 0.30. Calculate the following if possible. If any part of question

(you feel) is not possible to calculate give reason:

a. Develop the probability distribution table for sale

b. Calculate the expected number of sales per week and variance of sale

c. Find the probability that she makes at most 2 sales.

d. Find the probability that she makes between 3 and 6 sales (both inclusive)

Answer 1

a)

b)$\mu$ (expected number of sales per week=0.36015+0.3087*2+0.1323*3+0.02835*4+0.00243*5)=1.5

variance = $\sum$ p_i(x_i-$\mu$)² = 0.16807*(0-1.5)²+0.36015*(1-1.5)²+0.3087*(2-1.5)²+0.1323*(3-1.5)²+0.02835*(4-1.5)²+0.00243*(5-1.5)² = 1.05

c)0.16807+0.36015+0.3087=0.83692

d)0.1323+0.02835+0.00243=0.16308