Solved: An insurance salesperson sells an average of 14 policies, Basic Statistics

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An insurance salesperson sells an average of 14 policies

Question: An insurance salesperson sells an average of 1.4 policies per day.

a. Using the Poisson formula, find the probability that this salesperson will sell no insurance policy on a certain day.

b. Let x denote the number of insurance policies that this salesperson will sell on a given day. Using the Poisson probabilities table, write the probability distribution of x.

c. Find the mean, variance, and standard deviation of the probability distribution developed in part b.

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Basic Statistics: An insurance salesperson sells an average of 14 policies

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