SOLUTION: A telemarketing firm that sells insurance has found out that 40% of all calls made to households lead to a sale of insurance policy. Assume that each call is independent of all oth

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Question 1184277: A telemarketing firm that sells insurance has found out that 40% of all calls made to households lead to a sale of insurance policy. Assume that each call is independent of all other calls.
(i) Find the probability that no sales result from five calls


Answer by greenestamps(13203)   (Show Source): You can put this solution on YOUR website!


P(no sale on each call)=60% = 0.6

P(no sale 5 calls in a row) = (0.6)^5 = 0.07776


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