The following probability distribution was subjectively assessed for the number of sales a salesperson would make if he or she made five sales calls in one day. 
When the salesperson makes a sale, there are three possible sales levels: large, medium, and small. The probability of a large sale is 0.20 and the chance of a medium sale is 0.60. The probability on a given day that the salesperson will make one sale and that it is medium is 0.09.
Definitions:
Long-Run Average Cost Curve
A graphical representation that shows the minimum average cost at which any output level can be produced after all inputs are adjustable. It reflects economies and diseconomies of scale.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, leading to a reduced cost per unit of output.
Search Engine
A software system designed to search for information on the World Wide Web.
Long-Run Cost
Costs that a firm incurs when all factors of production and costs are variable, not fixed, in the long term.
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