Bert has a record of closing on the first call 70% of the time, with the probability of a sale dropping 10% with each successive call. Riley has a record of closing on the first call 56% of the time, with the probability of a sale dropping 5% with each successive call. If Bert and Riley make their sale on the fourth call to any given client (which is depedent on prior events), what is the probability of a sale? Based on their results, whom should management let go and whom should they keep? Data from Excel 1st P 2nd P 3rd P 4th P P Bert 0.7 0.6 0.5 0.4 0.3 Riley 0.56 0.51 0.46 0.41 0.36

Bert has a record of closing on the first call 70% of the time, with the probability of a sale dropping 10% with each successive call. Riley has a record of closing on the first call 56% of the time, with the probability of a sale dropping 5% with each successive call. If Bert and Riley make their sale on the fourth call to any given client (which is depedent on prior events), what is the probability of a sale? Based on their results, whom should management let go and whom should they keep? Data from Excel 1st P 2nd P 3rd P 4th P P Bert 0.7 0.6 0.5 0.4 0.3 Riley 0.56 0.51 0.46 0.41 0.36

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A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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