Question: 2 Conversion ASSIGNMENT: There are three calculations for this assignment: (1) Calculate the conversion ratio for hours, (2) Calculate the conversion ratio for fees, and

2 Conversion ASSIGNMENT:

There are three calculations for this assignment:

(1) Calculate the conversion ratio for hours,

(2) Calculate the conversion ratio for fees, and

(3) Calculate the average hourly rate based on the converted work.

FACTS: 1 For the period- the firm identified 235 prospects for consulting services 2 Of the 235 prospects, the firm generated (produced) 65 proposal opportunities 3 Of the 65, the firm generated (produced) 43 proposals 4 The 43 proposals account for 278,050 hours 5 The 43 proposals account for $89,996,250 in fees 6 The contracted work represents 18 proposals and $25,235,500 in fees and 83,550 hours

ANSWER: Hours = 31% Fees = 28%

can you explain how?

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