Explain how probability can be used to help a sales person forecast future sales. ( 60 Points )

2 answers:

7 0

Probability can help a salesperson to have a rough idea of what their buissness looks overall as an estimated guess but can also help by giving the sales person an advantage to work with any problems or to to try and resolve any errors which may occur

alina1380 [7]3 years ago

3 0

Answer:

explained below

Step-by-step explanation:

Forecasting of future sale is a very important requirement of any company forecasting leads to know the trend of the market what is the demand in the market and what will be the demand in future.

By good forecasting company can profit from it.

For forecasting probability is very important tool because of probability we can calculate the subjective forecasting which is very important.

Greater the probability greater is the chances of getting success in the company.

Company should go for the demand which have high probability of profit.

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Read 2 more answers

In a shipment of 56 vials, only 13 do not have hairline cracks. If you randomly select 3 vials from the shipment, in how many wa

Elden [556K]

Answer: 27434

Step-by-step explanation:

Given : Total number of vials = 56

Number of vials that do not have hairline cracks = 13

Then, Number of vials that have hairline cracks =56-13=43

Since , order of selection is not mattering here , so we combinations to find the number of ways.

The number of combinations of m thing r things at a time is given by :-

$^nC_r=\dfrac{n!}{r!(n-r)!}$

Now, the number of ways to select at least one out of 3 vials have a hairline crack will be :-

$^{13}C_2\cdot ^{43}C_{1}+^{13}C_{1}\cdot ^{43}C_{2}+^{13}C_0\cdot ^{43}C_{3}\\\\=\dfrac{13!}{2!(13-2)!}\cdot\dfrac{43!}{1!(42)!}+\dfrac{13!}{1!(12)!}\cdot\dfrac{43!}{2!(41)!}+\dfrac{13!}{0!(13)!}\cdot\dfrac{43!}{3!(40)!}\\\\=\dfrac{13\times12\times11!}{2\times11!}\cdot (43)+(13)\cdot\dfrac{43\times42\times41!}{2\times41!}+(1)\dfrac{43\times42\times41\times40!}{6\times40!}\\\\=3354+11739+12341=27434$