Bianca Peterson is a marketing engineer for Hexagon Composites, a company which sells carbon composite storage tanks.
Question:
Bianca Peterson is a marketing engineer for Hexagon Composites, a company which sells carbon composite storage tanks. In an effort to gain product adoptions from customers, Bianca goes on sales trips (often to foreign countries). For each of 120 previous sales trips, the file SalesTrips lists (1) whether the trip resulted in the visited customer adopting the product, and (2) the revenue generated by the adoption.
a. Bianca has six sales trips planned over the next couple of months. What is the average revenue that Bianca expects to generate from these six trips? What is the probability that she generates $200,000 or less from these six trips?
b. Bianca receives a sales bonus if she gains three more product adoptions before the end of the year. The number of sales trips that Bianca will need to make to earn her bonus is uncertain. What is its distribution? If Bianca only has time to make 10 more sales trips before the end of the year, what is the likelihood that she earns her bonus?
Step by Step Answer:
Essentials Of Business Analytics
ISBN: 9781337406420
3rd Edition
Authors: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson, Dennis J. Sweeney, Thomas A. Williams