To examine the effectiveness of its four annual advertising promotions, a mail-order company has sent a questionnaire
Question:
To examine the effectiveness of its four annual advertising promotions, a mail-order company has sent a questionnaire to each of its customers, asking how many of the previous year’s promotions prompted orders that would not otherwise have been made.
The table lists the probabilities that were derived from the questionnaire, where X is the random variable representing the number of promotions that prompted orders. If we assume that overall customer behavior next year will be the same as last year, what is the expected number of promotions that each customer will take advantage of next year by ordering goods that otherwise would not be purchased?
x 0 1 2 3 4 P (x) .10 .25 .40 .20 .05
Step by Step Answer:
Statistics For Management And Economics
ISBN: 9781133420774
9th Edition
Authors: Gerald Keller, Kenneth C Louden