A life insurance salesman sells on average 5 life insurances policies per week. Calculate the probability...

A life insurance salesman sells on average 5 life insurances policies per week. Calculate the probability that in a given week he will sell

Less than 3

2 or more, but no less than 6 policies

Solutions

Expert Solution

a) P(Less than 3)

= Poisson.dist(2, 5, True) [Excel Formula]

= 0.1247

b) P(2 or more but no more than 6)

= F(6) - F(1)

= Poisson.dist(6, 5, True) - Poisson.dist(1, 5, True)

= 0.7218

orchestra answered 2 years ago

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