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Probability that salesperson will sell no insurance policy

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Reference no: EM131679684

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.

Reference no: EM131679684

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