Wednesday, 14 August 2013

Probability (Statistics)

Probability (Statistics)

The internal sales group of a company has full-time employees on the phone
calling prospective customers. Based on historical information, each call
only has a 5% probability of being successful. This group needs at least 3
successful leads per day. Determine how many calls must be made to ensure
that the minimum success of at least 3 leads are met each day with a 80%
probability

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