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Mathematics, 21.03.2020 10:26 Fionaauggies

A mutual fund salesperson has arranged to call on 4 people tomorrow. Based on past experience the salesperson knows that there is a 20% chance of closing a sale on each call. Determine the probability distribution of the number of sales the salesperson will make.
Let S denote success, i. e. closing a sale P(S)=.20. Thus SC is not closing a sale, and P(SC)=.80

Q1) Draw probability tree
Q2) Construct the probability distribution table
Q3) Calculate the expected value

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Answers: 3

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