A life insurance salesman finds that, of all the sales he makes, 70% are to people who

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A life insurance salesman finds that, of all the sales he makes, 70% are to people who already own policies.

He also finds that, of all contacts for which no sale is made, 50% already own life insurance policies.

Furthermore, 40% of all contacts result in sales. What is the probability that a sale will be made to a contact who already owns a policy?

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Statistics For Business And Economics

ISBN: 9781292436845

10th Global Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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Question Posted: Oct 31, 2024 03:01 AM

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A life insurance salesman finds that, of all the sales he makes, 70% are to people who

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Statistics For Business And Economics

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