A Coffee Machine Sales Representative Visits 5 Businesses Per Day

question 102

Essay

A coffee machine sales representative visits 5 businesses per day. A sample of 200 days gives the frequencies of coffee machine sales volumes listed below: $$\begin{array} { | c | c | } \hline \text { Number of sales } & \text { Observed frequency (days) } \\\hline 0 & 10 \\\hline 1 & 38 \\\hline 2 & 69 \\\hline 3 & 63 \\\hline 4 & 18 \\\hline 5 & 2 \\\hline\end{array}$$ Assume that the population is binomially distributed with a probability of purchase p = 0.50.
Should the assumption of a binomial distribution be rejected at the 1% significance level?

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Definitions:

Insurance

A financial product that provides protection against possible future losses in exchange for a premium.

Adverse Selection

A situation where asymmetrical information leads to a mismatch between buyers and sellers, with one party having more or better information than the other.

Reckless Drivers

Individuals who operate vehicles in a careless or dangerous manner, often violating traffic laws and putting themselves and others at risk.

Safety Devices

Equipment or systems designed to prevent accidents, injuries, and harm in workplaces, vehicles, or public spaces by reducing risks and hazards.