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

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Management And Economics

ISBN: 9781133420774

9th Edition

Authors: Gerald Keller, Kenneth C Louden

Question Posted: