I need the Excel formula for this question. I already know the answers...Mean =

Question

I need the Excel formula for this question. I already know the answers...Mean = 2 and Variance - 1.6...but I need to know how to input in Excel.

Natway, a national distribution company of home vacuum cleaners, recommends that its salespersons make only two calls per day, one in the morning and one in the afternoon. Twenty percent of the time a sales call will result in a sale. Develop the probability distribution for # of sales during a five-day week. What is the mean and variance of this distribution?

Explanation / Answer

Input the data in excel as ,

Every day 2 calls results in sales therefore for 5 days in a week we shown 2 calls each day.

Also 20% of time call results in sale therefore probablity is 0.2 for each day.

Mean we can find as in Excel = Average (Sales data) = 2

Variance =Total ( x*f(x) ) - Total of (x*x*f(x)) = 2-0.4 = 1.6

Day in a week SALES (x) PROBABLITY f(x) x*f(x) x*x*f(x) 1 2 0.2 0.4 0.08 2 2 0.2 0.4 0.08 3 2 0.2 0.4 0.08 4 2 0.2 0.4 0.08 5 2 0.2 0.4 0.08 Total 1 2 0.4

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