Mathematics, 31.10.2019 00:31 dj129239

An insurance agent has appointments with four prospective clients tomorrow. from past experience the agent knows that the probability of making a sale on any appointment is one out of five. using the rules of probability, what is the likelihood that the agent will sell a policy to three of the four prospective clients?

Answers: 2

Show answers

Answers

Answer from: hannahbannana98

0.082

Step-by-step explanation:

Total number of clients = 4

From past experience, the agent knows that the probability of making a sale on any appointment is one out of five = 1/5.

This shows that there are only two possible outcomes, success or failure. It is either she makes a sale on an appointment or she fails to make a sale on the appointment. Therefore, we can use binomial distribution.

For binomial distribution,

P(x=r) = nCr × q^(n-r) × p^r

p = probability of making a sale on any appointment = 1/5 = 0.2

q = probability of not making a sale on any appointment = 1 -1/5 = 0.8

n = 5

x = 3

P(x=3) = 5C3 × 0.8^2 × 0.2^3

= 10×0.6724× 0.012167 =0.082

Answer from: raquelle66

2.56% probability that the agent will sell a policy to three of the four prospective clients

Step-by-step explanation:

For each client, there are only two possible outcomes. Either a policy is sold, or it is not. The probability of a policy being sold to a client is independent of other clients. So we use the binomial probability distribution to solve this question.

Binomial probability distribution

The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

In which $C_{n,x}$ is the number of different combinations of x objects from a set of n elements, given by the following formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of X happening.

An insurance agent has appointments with four prospective clients tomorrow.

This means that n = 4

From past experience the agent knows that the probability of making a sale on any appointment is one out of five.

This means that $p = \frac{1}{5} = 0.2$

Using the rules of probability, what is the likelihood that the agent will sell a policy to three of the four prospective clients?

This is P(X = 3).

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 3) = C_{4,3}.(0.2)^{3}.(0.8)^{1} = 0.0256$

2.56% probability that the agent will sell a policy to three of the four prospective clients

Answer from: Quest

step-by-step explanation:

distance formula is d=√(x2-x1)^2 + (y2-y1)^2

Answer from: Quest

i not know

step-by-step explanation:

Another question on Mathematics

Mathematics, 20.06.2019 18:04

Which of the following is the formula for the sequence graphed below

Answers: 1

Answer

Mathematics, 21.06.2019 16:00

To make a monster appear large in a movie, a human actor wore a costume and walked through a scale model of a city. the scale used was 1 inch = 15 feet. the actor is 60 inches tall. how tall does the monster appear in the movie? question 5 options: 720 feet 75 feet 4 feet 900 feet

Answers: 2

Answer

Mathematics, 21.06.2019 22:00

If rs 900 amounts to rs 1044 in 4 years, what sum will amount to 1368 in 3 1/2 years at the same rate

Answers: 3

Answer

Mathematics, 22.06.2019 00:00

Afarmer has decided to divide his land area in half in order to plant soy and corn. calculate the area of the entire area so he knows how much soil is needed. each bag of soil covers 20 square yards. how many bags should the farmer purchase? (4 points) 1 bag 2 bags 3 bags 4 bags

Answers: 2

Answer

You know the right answer?

An insurance agent has appointments with four prospective clients tomorrow. from past experience the...

Questions