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The publishers of a business magazine are running a sales promotion for their weekly magazine. The number of prospective customers a sales representative sees per day varies from 1 to 40. The table sh
The publishers of a business magazine are running a sales promotion for their weekly magazine. The number of prospective customers a sales representative sees per day varies from 1 to 40. The table shows the simulated data of the number of prospective subscribers approached by a sales representative for 8 consecutive weeks.
Day1234567
Week 120222717311239
Week 226133018241432
Week 321122237302318
Week 415331028342422
Week 511332132261922
Week 619272018311437
Week 729222730160936
Week 808281928253626
If the sales representative is able to get 20% of the prospective customers to subscribe, the maximum expected number of subscriptions per week is 3233.63435.4. If the sales representative earns $3 per subscription in addition to daily wages, the minimum expected value of the extra income per week is $93.60$94.20$96.40$97.80.