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A mutual fund salesperson has arranged to call on three people tomorrow. Based on past experience, the salesperson knows there is a 20% chance of closing a sale on each call. Below is the probability distribution of the number of sales. Determine the Expected number of sales the salesperson will make. Random Variable X = # sales  P(X)  3 0.08 2 0.096 1 0.384 0 0.512     0.816     0.716     0.616     0.516

A mutual fund salesperson has arranged to call on three people tomorrow. Based on past experience, the salesperson knows there is a 20% chance of closing a sale on each call. Below is the probability distribution of the number of sales. Determine the Expected number of sales the salesperson will make. Random Variable X = # sales  P(X)  3 0.08 2 0.096 1 0.384 0 0.512     0.816     0.716     0.616     0.516

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
Problem 65E
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QUESTION 5

A mutual fund salesperson has arranged to call on three people tomorrow. Based on past experience, the salesperson knows there is a 20% chance of closing a sale on each call. Below is the probability distribution of the number of sales. Determine the Expected number of sales the salesperson will make.

Random Variable X = # sales  P(X) 
3 0.08
2 0.096
1 0.384
0 0.512
   

0.816
   

0.716
   

0.616
   

0.516
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