Statistics – Suppose you’re a salesperson and you receive $1,000 commission

Statistics – Suppose you’re a salesperson and you receive $1,000 commission

Statistics – Suppose you’re a salesperson and you receive $1,000 commission with this normal distribution question. I also need the mean and the standard deviationSuppose you’re a salesperson and you receive $1,000 commission for each sale. During half of your sales calls the prospect agrees to talk with you over the phone. Of these 20% agree to meet you for a sales call. Of those who meet you for a sales call, half will buy your product or service. Assume all sales calls are independent. On average, how many sales calls must you make to receive $10,000 in commissions? Suppose you make 100 sales calls. What’s the chance you’ll make at least $6,000 (hint: you’ll have to use the Normal Distribution).

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