3 years ago

Is that correct ????

Mathematics

1 answer:

Travka [436]3 years ago

7 0

Yes I believe it is :)

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There is a 96% customer retention rate for the third quarter.

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Jenny owns a salon.

She had 150 customers at the end of the third quarter, 151 customers at the beginning of the third quarter, and five new customers in the third quarter.

<h3>Customer retention rate</h3>

It determines the percentage of customers that the company has retained over a given period.

The customer retention rate is determined by;

$\rm Customer \ retention \ rate=\dfrac{Given \ period -New \ customers}{Initial \ number}\times 100$

Substitute all the values in the formula;

$\rm Customer \ retention \ rate=\dfrac{Given \ period -New \ customers}{Initial \ number}\times 100\\\\\rm Customer \ retention \ rate=\dfrac{150-5}{151}\times 100\\\\ Customer \ retention \ rate=\dfrac{145}{151}\times 100\\\\ Customer \ retention \ rate=0.96 \times 100\\\\ Customer \ retention \ rate=96$

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To know more about customer retention rate click the link given below.

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