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) About Me  (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