Question: Past experience shows that the probability that salespeople will exceed their sales targets in a given year is 15%, provided that they exceeded their targets

Past experience shows that the probability that salespeople will exceed their sales targets in a given year is 15%, provided that they exceeded their targets in the previous year. If the probability of a salesperson exceeding his/her target in any given year is 78%, what is the probability the salesperson will exceed the target two years in a row?

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