A Salesperson Contacts Eight Potential Customers Per Day

question 48

Essay

A salesperson contacts eight potential customers per day.From past experience,we know that the probability of a potential customer making a purchase is 0.10.
a.Define the random variable in words for this experiment.
b.What is the probability the salesperson will make exactly two sales in a day?
c.What is the probability the salesperson will make at least two sales in a day?
d.What percentage of days will the salesperson not make a sale?
e.What is the expected number of sales per day?
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Definitions:

Tax Court's Method

Procedures and legal principles used by the United States Tax Court to resolve disputes between taxpayers and the IRS.

IRS Method

Specific procedures or guidelines established by the Internal Revenue Service for filing taxes, calculating depreciation, or determining fair market value, among others.

Personal Use

The use of a property or asset for individual needs or enjoyment, as opposed to business or income-producing purposes.

Royalty Income

Income received from the use of one's property or assets, such as patents, copyrighted works, or natural resources, by another party.