question archive Martin Coleman, credit manager for Beck's knows that the company uses three methods to encourage collection of delinquent accounts

Martin Coleman, credit manager for Beck's knows that the company uses three methods to encourage collection of delinquent accounts

Subject:StatisticsPrice:4.87 Bought7

Martin Coleman, credit manager for Beck's knows that the company uses three methods to encourage collection of delinquent accounts. From past collection Records, he learns that 70% of the accounts are called on personally, 20% are phoned and 10% are sent a letter. The probabilities of collecting an overdue amount from an account with the three methods are 0.75,0.60 and 0.65 respectively. Mr. Coleman has just received payments from a past due account. What is the probability that this account

(a) was called on personally

(b) received a phone call

(c) received a letter 

Option 1

Low Cost Option
Download this past answer in few clicks

4.87 USD

PURCHASE SOLUTION

Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

rated 5 stars

Purchased 7 times

Completion Status 100%