A sales representative normally closes on 80% of the presentations made. Assumin

Question

A sales representative normally closes on 80% of the presentations made. Assuming the presentations are independent events, find the probability of each of the following occurrences: 2a) after four successful calls (deal was closed), the representative fails to close on the 5th attempt; 2b) representative has three failed calls (no sale closed) but then is successful (deal was closed) on 4th attempt; 2c) the first presentation that he closes the deal on will be one of the first three attempts; 2d) the representative makes four presentations and at least two of them will result in a closed deal.

Explanation / Answer

geometric distribution

a) P = 0.20^5-1 * 0.80 = 0.00128

b)

P = 0.20^4-1 * 0.80 = 0.0064

c)

P = 0.80 * 0.20 * 0.20 = 0.032

d)

please post it in a new question

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