A certain company relies heavily on phone orders. Suppose past records show that R% of all incoming phone calls to this company are orders from customers. At least how big must R be for you to be at least 90% sure that the first phone order of the day will occur on or before the tenth incoming call of the day?
R% of the incoming phone calls are orders from customers. So 1-R% are not orders. So the probability that ...
The solution discusses the percentage needed to meet the daily sales quota within 10 phone calls.