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?
Answer to relevant QuestionsA professor finds that she awards a final grade of A to 20% of her students. Of those who obtain a final grade of A, 70% obtained an A on the midterm examination. Also, 10% of the students who failed to obtain a final grade ...A record-store owner assesses customers entering the store as high school age, college age, or older, and finds that of all customers 30%, 50%, and 20%, respectively, fall into these categories. The owner also found that ...Robert Smith uses either regular plowing or minimal plowing to prepare the cornfields on his Minnesota farm. Regular plowing was used for 40% of the field acreage. Analysis after the crop was harvested showed that 50% of the ...Given A = [E1, E3, E7, E9] and B = [E2, E3, E8, E9]. a. What is A intersection B? b. What is the union of A and B? c. Is the union of A and B collectively exhaustive? A financial analyst was asked to evaluate earnings prospects for seven corporations over the next year and to rank them in order of predicted earnings growth rates. a. How many different rankings are possible? b. If, in ...
Post your question