Let X be a random variable representing the number of policies, a life insurance salesman sells per week. It is known that the salesman sells on the average 3 life insurance policies per week. 1. What model would you propose for X? Compute E(X) and V(X). 2. Calculate the probability that in a given week (a) he will sell 2 or more policies but less than 5 policies. (b) he will sell more than 2 policies. 3. Assuming that there are 5 working days per week, what is the probability that in a given day he will sell one policy?

Let X be a random variable representing the number of policies, a life insurance salesman sells per week. It is known that the salesman sells on the average 3 life insurance policies per week. 1. What model would you propose for X? Compute E(X) and V(X). 2. Calculate the probability that in a given week (a) he will sell 2 or more policies but less than 5 policies. (b) he will sell more than 2 policies. 3. Assuming that there are 5 working days per week, what is the probability that in a given day he will sell one policy?

Name: Let X be a random variable representing the number of policies, a lif
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Description: Let X be a random variable representing the number of policies, a life insurance salesman sellsper week. It is known that the salesman sells on the average 3 life insurance policies per week.1. What model would you propose for X? Compute E (X) and V

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.3: Binomial Probability

Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...

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