Question

21. A telemarketing agent knows that for any given call to a customer, the probability of...

21. A telemarketing agent knows that for any given call to a customer, the probability of making a sale is 0.12 and independent of whether a sale was made with any other call. The agent makes 10 calls per hour. The day shift lasts 8 hours. The agent is expected to make at least 6 sales a day. If he makes less than 6 sales, he has to work overtime.

a. On an average day, what is the probability that the agent will have to work overtime? Explain how you’ve got the number.

b. Suppose it’s a lucky day! The very first 3 calls the agent has made have resulted in 3 sales. What is the probability that the agent will have to work overtime on this day? Explain how you’ve got the number.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Let X be the number of houses that an agent sold in a day. Suppose X...
Let X be the number of houses that an agent sold in a day. Suppose X has the following probability mass function (pmf): y 0 1 2 3 p(y)     0.5 0.33 0.14 0.03 The agent receives a 900-dollar commission for each sale made. On top of any applicable commission, there is a 600-dollar bonus pay if the agent makes at least 3 sales in a day. Answer the following questions. (a) If the agent makes at least one sale, what...
The heights of an adult females are normally distributed with a mean of 150 cm and...
The heights of an adult females are normally distributed with a mean of 150 cm and standard deviation of 8 cm. Let X be the height of an adult females; Find PX ≤ 160                Find P140<X<170 A telemarketer is a person who makes phone calls to prospective customers to promote sales of company’s products or services. The probability of a telemarketer in AZA Boutique Design in making a sale on a customer call is 0.2. Let X be the...
The Company: Telemarketing Incorporated (TI) is a service company with their primary business base in the...
The Company: Telemarketing Incorporated (TI) is a service company with their primary business base in the Rocky Mountain region. TI is a service organization in the business of collecting and selling information for contracted clients. Production Information: TI made 5,221,782 calls in 2004 to households all over the Rocky Mountain region from their main telemarketing facility in Colorado Springs. There were a total of 330 working days in 2004, which TI conducted telemarketing calls. In 2004 TI completed, on average,...
The Company: Telemarketing Incorporated (TI) is a service company with their primary business base in the...
The Company: Telemarketing Incorporated (TI) is a service company with their primary business base in the Rocky Mountain region. TI is a service organization in the business of collecting and selling information for contracted clients. Production Information: TI made 5,221,782 calls in 2004 to households all over the Rocky Mountain region from their main telemarketing facility in Colorado Springs. There were a total of 330 working days in 2004, which TI conducted telemarketing calls. In 2004 TI completed, on average,...
Please name the probability distributions and calculate probability required: 1. Accidents in a building are assumed...
Please name the probability distributions and calculate probability required: 1. Accidents in a building are assumed to occur randomly with an average rate of 36 per year. There will be x accidents in the coming April. What is the probability of at least 1 accident in April. 2. A book of 200 pages with 2 error pages. If there are 0 error page in a random selection of 10 pages we accept the whole book, what is the chance of...
Scott E. Miller, CPA, CVA has given an example of an expert witness in his article...
Scott E. Miller, CPA, CVA has given an example of an expert witness in his article entitled “You Got the Litigation Engagement, So Now What,” in The Value Examiner. Read his example and then prepare a list of mistakes that the expert made in his expert witnessing engagement. Let’s assume there is a CPA, Calvin P. Anderson. Calvin has been a practicing CPA for 15 years. He has a successful CPA firm providing a full range of traditional accounting and...
Horner Work Wear, Inc., supplies uniforms for a variety of businesses .. Collin Hoffman is a...
Horner Work Wear, Inc., supplies uniforms for a variety of businesses .. Collin Hoffman is a new intern in the Accounting Department at Horner. To expand sales, the company is considering paying commissions to its sales force. The controller, John Wallace, asks Collin to complete an analysis assuming sales would increase 25% under the proposed sales commission plan. This analysis should include 1) the new breakeven sales figure and 2) the operating profit under the new sales commission plan. Collin...
Chapter 1: Bob becomes a real estate investor It is November 2007 and the economy of...
Chapter 1: Bob becomes a real estate investor It is November 2007 and the economy of Bob is a recent art school graduate working as an actor on a new Tyler Perry movie. Bob got a wonderful 6 month contract with a 3 month advance on pay. After Bob’s second day of work he was getting gas and a new Ferrari pulled up in the next stall. Bob was amazed and started a conversation. It turns out the owner of...
How do you relate the most to this story and why? In two strong paragraphs, explain...
How do you relate the most to this story and why? In two strong paragraphs, explain what it is about the tone and/or imagery of the story that speaks to you and why. Use some text examples to support your response Hills Like White Elephants (1927) The hills across the valley of the Ebro1 were long and white. On this side there was no shade and no trees and the station was between two lines of rails in the sun....
Scenario Marcy recently started her first job after graduating from business school with her accounting degree....
Scenario Marcy recently started her first job after graduating from business school with her accounting degree. She is very excited to be working in her field and although she knows she still has a lot to learn, she already feels like she is getting a good feel for what it takes to be successful. She has been assigned to work under one of the senior accountants, Mrs. Bradlee, and so far, she has been easy to work with and very...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT