Question

In: Statistics and Probability

Linda is a sales associate at a large auto dealership. At her commission rate of 25%...

Linda is a sales associate at a large auto dealership. At her commission rate of 25% of gross profit on each vehicle she sells, Linda expects to earn 310 for each car sold and 390 for each truck or SUV sold. Linda motivates herself by using probability estimates of her sales. For a sunny Saturday in April, she estimates her car sales as follows:

Cars sold 0 1 2 3
Probability 0.3 0.3 0.1 k

Linda's estimate of her truck or SUV sales is

Truck or SUV sold

 0 1 2
Probability 0.3 0.35 0.35

5. Lindas best estimate of her earnings for the day.

Incorrect. Tries 3/5 Previous Tries

6. the variance of the number of cars Linda sells for the day.

Incorrect. Tries 2/5 Previous Tries

7. the variance of the number of trucks or SUVs Linda sells for the day.

8. the variance of Linda's earnings for the day.

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Expert Solution

orchestra answered 2 years ago
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