In paragraph form, create an example in everyday life that uses the binomial distribution as a model. Make sure that you explain how your example fits the requirements for a binomial distribution.
See the attached file.
Real life example:
In an interview Mr. Deborah E. Pearlman, CEO, DKP & Associates, Inc. said that one of the major task of managers at contact centers is to appraise their agents.
"They should use the information to work with their agents several times a week to improve their performance - one item at a time. Outbound centers should be looking at SPH, conversion rate, contacts per hour, quality scores and wrong number percentage. Inbound agents should be measured on log in time, talk time, quality scores customer satisfaction levels as well as sales results in cross-selling environments. Both inbound and outbound agents should be judged against reasonable goals, on where they fall on a comparative basis against all ...
This solution exemplifies a real-life example that uses the binomial distribution in the major task of managers at contact centers to appraise their agents. It explains how managers can use the binomial distribution to determine if their agents are performing well or under-performing.