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Door-to-Door Marketing.A small nonprofit organization isplanning a door-to-door marketing campaign to sell Christmaswrapping and gifts They plan to visit 100 homes Consultants have estimated that the

Door-to-Door Marketing.A small nonprofit organization isplanning a door-to-door marketing campaign to sell Christmaswrapping and gifts. They plan to visit 100 homes.Consultants have estimated that they should expect to findsomeone home 80 percent of the time. When someone ishome, 65 percent of the time it is a female. Thirty percent offemales make a purchase, and when they do so the dollarvalue of their purchase is normally distributed with a mean of$22 and a standard deviation of $5. Males purchase 20percent of the time, and the dollar value of their purchaseis normally distributed with a mean of $28 and a standarddeviation of $3.
a. What is the total amount they can expect to generate inrevenues from these 16 visits?
b. What is the standard deviation of total revenues over 16 visits?
c. What is the probability they will make more than $100?
–Use rand() function to generate Bernoulli trials

Sep 01 2020 Read more Less More

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