question archive The table computes the probabilities dependent on one another for making a sale
The table computes the probabilities dependent on one another for making a sale
Subject:StatisticsPrice: Bought3
The table computes the probabilities dependent on one another for making a sale.
Data from Excel 1st P 2nd p 3rd P 4th P P
Bert 0.7 0.6 0.5 0.4 ?
Riley 0.56 0.51 0.46 0.41 ?
Explain the probability of Bert and Riley making a sale on the fourth call.
Bert record is closing on the first call 70% of the time, with the probability of a sale dropping 10% with each successive call. Riley record closing on the first call 56% of the time, with the probability of a sale dropping 5% with each successive call.
