Assume that a real estate manager has 5 contacts per week, and she believes that for each contact the probability of making a sale is 0.30. Calculate the following if possible. If any part of question (you feel) is not possible to calculate give reason: a. Develop the probability distribution table for sale Calculate the expected number of sales per week and variance of sale
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
Question # 2:
Requirement # a, b, & c.
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