Question
After working in an established law firm for a couple of years, Stephen Lee is considering opening a law office Lee and Associates to serve
After working in an established law firm for a couple of years, Stephen Lee is considering opening a law office "Lee and Associates" to serve an under-serviced segment - the small and medium-sized enterprises.
This law office would provide easy access to clients with opening hours from 7am to 11pm (16 hours) everyday, 360 days a year. For each of two eight-hour shifts, a lawyer, paralegal, legal secretary and clerk-cum-receptionist will staff the office.
A marketing consultant was contracted to assist with market projections as part of the feasibility study. The consultant projected that if the firm spends $1,960,000 on advertising in the first year, the expected number of new clients each day would have the following probability distribution:
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