This problem involves a binomial distribution, but the number of sales contacts (n) is not explicitly stated. We will assume a reasonable number of contacts to solve the problem.
Assumption: We assume the sales manager makes n=5 sales contacts in a particular day. If the actual number of contacts is different, the probabilities will change accordingly.
Given:
• Probability of a sale (p) = 0.30
• Probability of no sale (1−p) = 1−0.30=0.70
• Number of contacts (n) = 5 (assumed)
Let X be the number of sales made. The probability mass function for a binomial distribution is P(X=k)=(kn)pk(1−p)n−k.
Step 1: Calculate the probability of making k sales for k=0,1,2,3,4,5.
P(X=0)=(05)(0.30)0(0.70)5=1×1×0.16807=0.16807
P(X=1)=(15)(0.30)1(0.70)4=5×0.30×0.2401=0.36015
P(X=2)=(25)(0.30)2(0.70)3=10×0.09×0.343=0.30870
P(X=3)=(35)(0.30)3(0.70)2=10×0.027×0.49=0.13230
P(X=4)=(45)(0.30)4(0.70)1=5×0.0081×0.70=0.02835
P(X=5)=(55)(0.30)5(0.70)0=1×0.00243×1=0.00243
A) Probability of at most 3 sales, P(X≤3).
This is the sum of probabilities for X=0,1,2,3.