Natway, a national distribution company of home vacuum cleaners, recommends that its salespersons make only two calls

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Natway, a national distribution company of home vacuum cleaners, recommends that its salespersons make only two calls per day, one in the morning and one in the afternoon. Twenty-five percent of the time a sales call will result in a sale and the profit from each sale is $125. Develop the probability distribution for sales during a five-day week. What is the mean and variance of this distribution?

What is the expected weekly profit for a salesperson?


Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Quantitative Analysis for Management

ISBN: 978-0132149112

11th Edition

Authors: Barry render, Ralph m. stair, Michael e. Hanna

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