Tony runs a cell phone kiosk in the mall and has 222 potential
customers each day. He has a 6 % chance to make a sale to each
customer. Use continuity correction to normally approximate the
following probabilities.
Round to 4 decimal places.
a. The probability that he makes AT LEAST 14
sales
b. The probability that he makes AT MOST 12 sales
Tony runs a cell phone kiosk in the mall and has 222 potential customers each day....
Tony runs a cell phone kiosk in the mall and has 223 potential customers each day. He has a 7 % chance to make a sale to each customer. Use continuity correction to normally approximate the following probabilities. Round to 4 decimal places. a. The probability that he makes AT LEAST 17 sales b. The probability that he makes AT MOST 15 sales
Tony runs a cell phone kiosk in the mall and has 241 potential customers each day. He has a 7 % chance to make a sale to each customer. Use continuity correction to normally approximate the following probabilities. Round to 4 decimal places. a. The probability that he makes AT LEAST 18 sales b. The probability that he makes AT MOST 16 sales
Tony runs a cell phone kiosk in the mall and has 220 potential customers each day. He has a 6 % chance to make a sale to each customer. Use continuity correction to normally approximate the following probabilities. Round to 4 decimal places. a. The probability that he makes AT LEAST 14 sales b. The probability that he makes AT MOST 12 sales
A telemarketer, who places random phone calls to potential customers, has a .05 probability of making a sale with every phone call, independently of other phone calls. What is the expected number of calls needed to make the first sale of a day? What is the probability that more than 10 calls will be needed to make the first sale of the day?
Every day a company makes 100 phone calls. Each call has a 40% chance of being answered. Calls are answered or not independently of each other. Every time a call is answered a sale is made in the amount X that is a random variable having a normal distribution with μ= 50 and σ= 5. Let Y be the number of answered calls during a day and let W be the total amount of daily sales. Assume that sales amounts...
Every day a company makes 100 phone calls. Each call has a 40% chance of being answered. Calls are answered or not independently of each other. Every time a call is answered a sale is made in the amount X that is a random variable having a normal distribution with μ= 50 and σ= 5. Let Y be the number of answered calls during a day and let W be the total amount of daily sales. Assume that sales amounts...
1. There are several scenarios described below. For each of them, do the following (note: R.V. means random variable) (1) Define the R.V.--- that means something like, “Let X be the number of people who....." (2) Define the distribution and parameter(s) of the R.V. (3) Give the support of the R.V. (4) Write the probability statement related to the information being sought. Do not calculate the probability. a) The Bureau of Motor Vehicles in Michigan states that 4 out of...
1. Which step of the personal selling process did Sam engage in when, early in his career, he made in-person cold calls with professors on various campuses? Sales presentation Preapproach Closing the sale Generating and qualifying leads Follow-up 2. Why is Sam most likely to have a long-term relationship with his customers? He lets professors initiate sales visits. He guarantees the cheapest prices. He earns customers’ trust and loyalty through one-on-one interactions. He closes sales as soon as possible. His...
I. Read the following case: “Alex Smith is preparing a sales presentation for his company, Phones4Kids, which manufactures and sells cell phones that are specifically designed for children. Phones4Kids employs several hundred workers in Mooray, Missouri, a small town with only two other large employers in addition to Phones4Kids. Alex hopes to sell specialty phones for boys and girls aged 6-10 to a retailer in Hooptown, Missouri. This sale would represent approximately 25% of the projected revenue for the current...
You are part of an accounting firm Advisory team that has been engaged by a client to assess how they might make their “sales to order” process more “efficient”, perhaps with the introduction of new technologies. The client has provided a written description of their business, and the process under review, as follows: HHH is a small manufacturer of university based sportswear (a highly competitive market where fast response times are prized by customers). Sales span every region of the...