Question
Need help with a stats problem, normal distribution. Need the mean and standard deviation. Here's the question and all the info I am given Salesperson
Need help with a stats problem, normal distribution. Need the mean and standard deviation. Here's the question and all the info I am given
Salesperson Commission. Suppose youre a salesperson and you receive $1,000 commission for each sale. During half of your sales calls the prospect agrees to talk with you over the phone. Of these 20% agree to meet you for a sales call. Of those who meet you for a sales call, half will buy your product or service. Assume all sales calls are independent. On average, how many sales calls must you make to receive $10,000 in commissions? Suppose you make 100 sales calls. Whats the chance youll make at least $6,000 (hint: youll have to use the Normal Distribution).
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