A home seller makes phone calls to potential customers. The probability of selling on each call is 0 .0 2. a. Calculate the probability that the sixth call is the first sale.b. Calculate the expected number of calls until the first saleC. How likely is it that the first sale will occur after more than 5 calls if 3 calls have already been made without success?d. The cost of each call is S /. 1.5. If a call is not a sale the next one costs S / .2.0. Find the expected cost of the number of calls you make until you get your first sale
A home seller makes phone calls to potential customers. The probability of selling on each call is 0 .0 2. a. Calculate the probability that the sixth call is the first sale.b. Calculate the expected number of calls until the first saleC. How likely is it that the first sale will occur after more than 5 calls if 3 calls have already been made without success?d. The cost of each call is S /. 1.5. If a call is not a sale the next one costs S / .2.0. Find the expected cost of the number of calls you make until you get your first sale
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
Related questions
Concept explainers
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Topic Video
Question
A home seller makes phone calls to potential customers. The probability of selling on each call is 0 .0 2.
a. Calculate the probability that the sixth call is the first sale.
b. Calculate the expected number of calls until the first sale
C. How likely is it that the first sale will occur after more than 5 calls if 3 calls have already been made without success?
d. The cost of each call is S /. 1.5. If a call is not a sale the next one costs S / .2.0. Find the expected cost of the number of calls you make until you get your first sale
b. Calculate the expected number of calls until the first sale
C. How likely is it that the first sale will occur after more than 5 calls if 3 calls have already been made without success?
d. The cost of each call is S /. 1.5. If a call is not a sale the next one costs S / .2.0. Find the expected cost of the number of calls you make until you get your first sale
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you