Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

If a company employs n salespersons, its gross sales in thousands of dollars may be regarded as a random variable having a gamma distribution with α = 80√n and β = 2. If the sales cost is $8,000 per salesperson, how many salespersons should the company employ to maximize the expected profit?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91885481

Have any Question?


Related Questions in Statistics and Probability

A researcher working at a particular company wants to know

A researcher working at a particular company wants to know if workers' health would improve if they were given extra days 'off. In this company, all workers undergo a standard physical exam twice a year and after each ex ...

The board of a major credit card company requires that the

The board of a major credit card company requires that the mean wait time for customers when they call customer service is at most 3.00 minutes. To make sure that the mean wait is not exceeding the requirement, an assist ...

Using a telephone survey of 400 randomly selected

Using a telephone survey of 400 randomly selected registered voters, he solicits both their party identification and whether or not they had read the newspaper that day. The results are displayed in the following cross-t ...

A fair die is rolled 36 times what is the standard

A fair die is rolled 36 times. What is the standard deviation of the even number (2, 4, or 6) outcomes?

Determine the critical values for a left-tailed test of a

Determine the critical? value(s) for a? left-tailed test of a population mean at the alpha α=0.01 level of significance based on a sample size of n=15.

Research scenario a community psychologist is interested in

Research Scenario: A community psychologist is interested in whether people's self-reported degree of religious belief predicts their self-reported feelings of well-being. She administers two questionnaires to 17 individ ...

Youve finally decided to retire at the ripe old age of 50

You've finally decided to retire at the ripe old age of 50, and due to some fancy investing, you have accumulated $750,000 in mutual funds. Based upon genetics, you're likely to live until you're 80. Since you've taken t ...

15-18 years 419-22 years 523-26 years 627-30 years 931-34

15-18 years 4 19-22 years 5 23-26 years 6 27-30 years 9 31-34 years 2 35-38 years 7 Based on the frequency distribution above, find the relative frequency for the class 15-18 . Relative Frequency =  %    Give your answer ...

A pharmaceutical company claims that the average cold lasts

A pharmaceutical company claims that the average cold lasts an average of 8.4 days. They are using this as a basis to test new medicines designed to shorten the length of colds. A random sample of 106 people with colds, ...

Suppose you believe that johnson companys stock price is

Suppose you believe that Johnson Company's stock price is going to increase from its current level of $22.50 sometime during the next 6 months. For $250.30 you can buy a 6-month call option giving you the right to buy 10 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As