BADM216 Hw3_ - BADM 216 Homework 3 Please solve the...

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BADM 216 Homework 3 Please solve the following questions related to Chapter 5: Discrete Probability Distribution. 1. A salesperson contacts eight potential customers per day. From past experience, we know that the probability of a potential customer making a purchase is .20. a. What is the probability the salesperson will make exactly three sales in a day? Use the binomial distribution N=8 total potential customers K= 3 sales P=.20 Exactly K=0.1468 b. What percentage of days will the salesperson not make a sale? N=8 total potential customers K= 0 sales P=.20 No sales= 0.1678 c. What is the expected number of sales per day? n*p = 8*.2 = 1.6 [Hint: Please see Chap005 – Slides 27 -39 for Binomial Probability Distribution. Please also see pages 237 - 245 in the textbook.] 2. Shoppers enter Hamilton Place Mall at an average of 60 per hour. a. What is the probability that exactly 5 shoppers will enter the mall between noon and 12:05 p.m.? Poisson Probability Distribution f x n x n x p p x n x ( ) ! !( )! ( ) ( ) 1 f x n x n x p p x n x ( ) ! !( )! ( )
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