A financial consultant has an average of 7 customers he consults with each day, which are assumed
Question:
A financial consultant has an average of 7 customers he consults with each day, which are assumed to be Poisson distributed. The consultant’s overhead requires that he consult with at least 5 customers in order that fees cover expenses. Find the probabilities of 0– 10 customers in a given day. What is the probability that at least 5 customers will schedule his services?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 36% (11 reviews)
Financial Consultant Average 7 cus...View the full answer
Answered By
Amit Choudhary
I'm new in this profession regarding online teaching but previously i used to teach students near my college. I am teaching on online platform since last year and got good support from the students. I'm teaching on platforms like chegg and vedantu and also at my home in free time.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business Communication questions
-
Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that the financial consultant A financial consultant has an average of 7 customers he consults with each...
-
Charles, a financial consultant, has been self-employed for two years. His list of clients has grown, and he is earning a reputation as a shrewd investor. Charles rents a small office, uses the pool...
-
As a financial consultant, you have contracted with Wheel Industries to evaluate their procedures involving the evaluation of long term investment opportunities. You have agreed to provide a detailed...
-
What kinds of functions of local government are usually protected by immunity?
-
Review the major reasons for the emergence of new infectious diseases. What methods are available for identifying and controlling the emergence of new infectious diseases?
-
The General Social Survey asked 1676 people how many hours per day they were able to relax. The results are presented in the following table. Consider these 1676 people to be a population. Let X be...
-
Bank Reconciliation} Valentine Investigations has the following information for its cash account: Valentine's bank statement for February contained the following information: A comparison of company...
-
Appliances Repair and Service Company bills all customers rather than collecting in cash when services are provided. All mail is opened by Tom Gyders, treasurer. Gyders, a CPA, is the most qualified...
-
prepare a balance sheet dated December 3 1 , 2 0 2 5 assume that the company will pay 3 3 , 5 5 0 of the mortgage payable in 2 0 2 6 . The balance sheet should have assets, liabilities, and...
-
As the volunteer business manager for the New City Band (City Band), you are responsible for preparing the operating budget for the organizations upcoming summer concert season. Each year, City Band...
-
A telephone call center where people place marketing calls to customers has a probability of success of 0.08. The manager is very harsh on those who do not get a sufficient number of successful...
-
The number and frequency of Atlantic hurricanes annually from 1940 through 2012 is shown here. a. Find the probabilities of 0 12 hurricanes each season using these data. b. Assuming a Poisson...
-
Prove that the fractional knapsack problem has the greedy-choice property.
-
A company's bank statement shows a $750 cash balance at December 31. However, its book balance of cash shows a $990 debit balance at December 31. The following dashboard shows data to reconcile the...
-
A potential client comes into the office and relates the following facts: The potential client, Mary Smith, is the niece of Amy Jones. Amy Jones owned a house. She died intestate (without leaving a...
-
A company provided the following information regarding its only product: Sale price per unit Direct materials used $50 $160,000 Direct labor incurred $185,000 Variable manufacturing overhead $120,000...
-
You are an investment analysist at a hedge fund that is comfortable taking calculated risk. They do invest in distressed debt. The Holdco has $10mm of assets, Opco 1 has $75mm of assets and Opco 2...
-
A stock has just paid a dividend of $2.20. The next dividend on the stock will be paid one year from today and each subsequent dividend will be old one year after the previous dividend. Each annual...
-
A 2.7 kg block of wood sits on a table. A 3.0 g bullet, fired horizontally at a speed of 500 m/s, goes completely through the block, emerging at a speed of 220 m/s. What is the speed of the block...
-
Test whether the 5-year survival rate for breast cancer is significantly different between African American and Caucasian women who are younger than 50 years of age and have localized disease....
-
The time value of money states that: (a) 100 today is worth less than 100 in a years time (b) 100 today is worth more than 100 in a years time (c) 100 today is worth the same as 100 in a years time...
-
How do the concepts of master production scheduling and material requirements planning translate to a service organization? Provide an example.
-
How should managers choose an appropriate lot-sizing rule? Should they be chosen strictly on an economic basis, or should intangible factors be considered. Why?
-
How should managers choose an appropriate lot-sizing rule? Should they be chosen strictly on an economic basis, or should intangible factors be considered. Why?
-
Lightfoot Inc., a software development firm, has stock outstanding as follows: 3 0 , 0 0 0 shares of cumulative preferred 4 % stock, $ 2 5 par, and 3 8 , 0 0 0 shares of $ 1 0 0 par common. During...
-
The following information relates to the debt imvestments of Ayayai Inc. during a recent year: On February 1 , the company purchased Gibbons Corp. 1 0 % bonds with a face value of $ 2 2 2 , 0 0 0 at...
-
Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials. The company's performance report...
Study smarter with the SolutionInn App