You were asked to use a probability distribution function to predict the number of books that would be sold over the next 7 days. Explain the process you went through to complete this analysis

What will be an ideal response?

In order to predict the number of books that will be sold in the next 7 days, I first calculated the mean of the sample data provided. I then determined a range of sales volume that could occur on any given day and entered those values down a column. I decided on a range from 255 to 400 in increments of 5 . I then used the Poisson cumulative probability distributionto calculate the probability that on any given day Booker Publishing would sell 255 or fewer books, 300 or fewer books, etc. Finally, I used the RAND() function to create 7 random probability values down a column and then used a VLOOKUP function to retrieve the sales volume value within the range of 255-400 that matches approximately to each of the random probabilities.