This should Solved in Microsoft Excel
Binomial distribution,Normal Distribution Topics
1. Natway, a national distribution company of home vacuum cleaners, recommends that its salespersons make only two calls per day, one in the morning and one in the afternoon. Twenty-five percent of the time a sales call will result in a sale, and the profit from each sale is $125. Develop the probability distribution for sales during a five-day week.
ï® What is the mean and variance of this distribution?
ï®What is the expected weekly profit for a salesperson?
2. Sales for Fast Kat, a 16-foot catamaran sailboat, have averaged 250 boats per month over the last five years, with a standard deviation of 25 boats. Assuming that the demand is about the same as past years and follows a normal curve. ï® What is the probability sales will be less than 280 boats? ï® What is the probability that sales will be more than 265 boats during the next month? What is the probability that sales will be less than 250 boats next month?