Sales Volumes A Telemarketer Makes Five Calls Per Day.A Sample of 200

question 164

Essay

Sales Volumes
A telemarketer makes five calls per day.A sample of 200 days gives the frequencies of sales volumes listed below: Assume the population is binomial distribution with a probability of purchase p equal to .50.
-{Sales Volumes Narrative} Should the assumption of a binomial distribution be rejected at the 5% significance level?

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Definitions:

Factors Of Production

The resources, including land, labor, capital, and entrepreneurship, that are used in the production of goods and services.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods and services that can be produced from a fixed set of resources in a given period.

Opportunity Cost

Represents the value of the next best alternative forgone when a decision is made to choose one option over others.

Factors Of Production

Factors of production are the inputs needed for the creation of a good or service, including land, labor, capital, and entrepreneurship.