Question

A few regular customers have asked BBH for ultra stretch blue jeans. Martha has agreed to stock it, even though sales for these items have been slow. After analyzing past data, you have found that a Poisson distribution with a mean of 2.7 closely fits the weekly sales pattern for this model of jeans. The cost of the SKU #J16969 (ultra stretch blue jeans) is $18.25 and the unit sales price is $39.99 What is the probability of selling 0 ultra stretch blue jeans (SKU #J16969) in a week? How would you plug that into excel?

Answer 1