If (n) salespeople are employed in a door-to-door selling campaign, the gross sales volume in thousands of
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If \(n\) salespeople are employed in a door-to-door selling campaign, the gross sales volume in thousands of dollars may be regarded as a random variable having the gamma distribution with \(\alpha=100 \sqrt{n}\) and \(\beta=\frac{1}{2}\). If the sales costs are \(\$ 5,000\) per salesperson, how many salespeople should be employed to maximize the expected profit?
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Probability And Statistics For Engineers
ISBN: 9780134435688
9th Global Edition
Authors: Richard Johnson, Irwin Miller, John Freund
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