Number of Sales
a Salesperson Makes Five Calls Per Day

question 116

Essay

Number of sales
A salesperson makes five calls per day.A sample of 200 days gives the frequencies of sales volumes listed below $$\begin{array} { | c c | } \hline \begin{array} { c } \text { Number of } \\\text { Sales }\end{array} & \begin{array} { c } \text { Observed } \\\text { Frequency (days) }\end{array} \\\hline 0 & 10 \\1 & 38 \\2 & 69 \\3 & 63 \\4 & 18 \\5 & 2 \\\hline\end{array}$$
-Assume the population is a binomial distribution with a probability of purchase $\pi$
equal to 0.50.Compute the expected frequencies (E_j)for the number of sales by using the binomial tables.Combine if necessary to satisfy the rules of five.

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Definitions:

Financial Control

The management of a firm's costs and expenses in order to ensure efficiency, accountability, and profitability.

Forecasts

Forecasts are predictions or estimates of future events or trends, based on analysis of existing data and modeling.

Financial Plan

A comprehensive evaluation of an individual's or organization's current and future financial state by using known variables to predict future cash flows, asset values, and withdrawal plans.

Treasurer

An official responsible for overseeing the management of a company's or organization's finances.