Answer:
The expected number of contracts the sales representative will get this week is 5.22
Step-by-step explanation:
For each client, there are only two possible outcomes. Either there is a sales contract, or there is not. The probability of having a sale contract with each client is independent of other clients. So we use the binomial probability distribution to solve this problem.
Binomial probability distribution
Probability of exactly x sucesses on n repeated trials, with p probability.
The expected value of the binomial distribution is:
[tex]E(X) = np[/tex]
In this problem, we have that:
[tex]n = 18, p = 0.29[/tex]
What is the expected number of contracts the sales representative will get this week?
[tex]E(X) = np = 18*0.29 = 5.22[/tex]
The expected number of contracts the sales representative will get this week is 5.22
