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    Probability Distribution, Mean, Variance and Weekly Profit

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    Natway, a national distribution company of home vacuum cleaners, recommends that its salespersons make only two calls per day, one in the morning and one in the afternoon. Twenty percent of the time a sales call will result in a sale. Write out the probability distribution for # of sales during a five-day week. What is the mean and variance of this distribution?

    Assume that the profit from each sale is $750 for the situation in additional problem #1. What is the expected weekly profit for a salesperson?

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    Solution Preview

    this is a binomial probability distribution (either a sale is made or it is not)

    P (sale) = ...

    Solution Summary

    The expert examines the probability distribution, mean and variance of a weekly profit for a salesperson.