A certain insurance salesman sees an average of five customers in a week. Each time he speaks

Question:

A certain insurance salesman sees an average of five customers in a week. Each time he speaks to a customer, he has a 30 % chance of making a deal. What is the probability that he makes five deals after speaking with five customers in a week?

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

Step by Step Answer:

Related Book For book-img-for-question

Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

See More Books

Question Posted: Feb 10, 2024 12:57 PM

See More Questions

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Homework-2 DECISION ANALYSIS PROBLEMS Problem-1: Kenneth Brown is the principal owner of Brown Oil, Inc. After quitting his university teaching job, Ken has been able to increase his annual salary by...
The North American and European continents are moving apart at a rate of about 3 cm/y. At this rate how long will it take them to drift 500 km farther apart than they are at present?
The Flynn Company began the period with $15,000 worth of raw materials. During the period they purchased an additional $17,000 worth of materials and issued $24,000 of materials for production. In...
Paying for music downloads. If you use the Internet, have you ever paid to access or download music? This was one of the questions of interest in a recent Pew Internet & American Life Project Survey...
Distinguish between licensing and franchising. What are the main types of franchises? LO.1
Brehm Vineyards grows a unique white pinot noir grape that they use to produce a white wine that is in high demand. Brehm uses all the grapes they can grow to produce their own white pinot noir wine....
2. In the delivery cycle time, which of the following is considered value-added time? (1 Point) Inspection time Queue time O Process time O Move time 3. Which of the following statements is NOT true...
A baseball player usually has four at bats each game. Suppose the baseball player is a lifetime 0.25 hitter. Find the probability that this player will have: (a) Two hits out of four at bats (b) No...
A student takes an exam that consists of 10 multiple-choice questions. Each question has five possible answers. Suppose the student knows nothing about the subject and just guesses the answer on each...
Describe the nature and types of restrictive covenants.
Q.9 Prepare a cash flow statement using the indirect method based on the following information: - Net Income: $150,000 - Depreciation Expense: $20,000 - Increase in Accounts Receivable: $10,000...
3.11 (a) Find the order of the elements 2, 7, 10 and 12 in F17. (b) Find the order of the elements a, a, a + 1 and a3 + 1 in F16, where a is a root of 1+x+x4.
You have been recently hired to lead a Project to relocate your main Distribution Centre (DC) from Calgary, Alberta to St. John's, Newfoundland. As the Project Manager, try to complete a project plan...
Males Mean: 69.6 Standard Deviation: 11.3 For males, find P90, which is the pulse rate separating the bottom 90% from the top 10%.
Statistics Assignments Using Excel Assignment #4: Measures of Variability Part I Below are ACT composite scores from 20 randomly selected college students. 15 33 20 25 21 24 17 16 20 25 26 21 21 17...
Do you believe the goal of protecting children justifies banning advertising for legal products? Which products specifically?
Write the general quadratic equation y2 - 8y - 4x + 28 = 0 in standard form. Determine the vertex, focus, and directrix of the parabola defined by this equation. Sketch a graph.
Refer to the Human Factors (March 2014) study of shared leadership by the cockpit and cabin crews of a commercial airplane, Exercise 8.14. Recall that simulated flights were taken by 84 six-person...
Refer to the Financial Analysts Journal (July/August 2008) comparison of earnings forecasts of buy-side and sell-side analysts, Exercise 12.90. Recall that the professors used regression to model the...
Refer to the Financial Analysts Journal (July/August 2008) comparison of earnings forecasts of buy-side and sell-side analysts, Exercise 12.90. Recall that the professors used regression to model the...
you are analyzing the cost of debt for a firm. Do you know that the firms 14 year maturity, 7.8 Percent coupon bonds are selling at a price of $834. The Barnes pay interest semi annually. If these...
***Please answer the following using excel and showcasing the formulas/calculations used*** thank you so much Financial information on AAA Ltd. is shown below. AAA Ltd. Income Statement For the Year...
2. In an account Anh Paglinawan currently has $216,670.00. At a rate of 8.00% how long will it take for them to have $298,390.00 assuming semi-annually compounding? (Hint: compute the exact years, do...

A certain insurance salesman sees an average of five customers in a week. Each time he speaks

Question:

Step by Step Answer:

The situation described in this question is a binomial experiment Binomial experiments have two opti...View the full answer

Statistics For Business And Financial Economics

Students also viewed these Business questions