What is the standard deviation of total revenues

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Reference no: EM131626811

By using Microsoft Excel's Analytic Solver Platform to solve the question below:

An organization is performing a door-to-door marketing campaign to sell goods to consumers. They will visit 30 homes. Consultants estimated they expect to find someone home 80% of the time. When someone is home 65% it is a female. 30% of females make a purchase, and when they make a purchase it is normally distributed with a mean of $22 and a standard deviation of $5. 20% of males make a purcahse, and when they do it is normall distributed with a mean of $28 and a standard deviation of $3.

1) What is the total amount they can expect to generate in revenues from these 30 visits?

2) What is the standard deviation of total revenues over 30 visits?

3) What is the probability they will make more than 100?

Reference no: EM131626811

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