Ask question

Ask question

All categories

2 years ago

9

Explain how probability can be used to help a sales person forecast future sales.

2 answers:

Naily [24]2 years ago

6 0

Answer with explanation:

A salesperson can use probability to get an idea of his business as using probability he can estimate his sale of the next month as well, based on the present and previous months sales.

It can help him sort issues or errors he is facing in his business as he will get a complete idea of his business using probability.

Moreover, he can forecast future sales by using a technique which involves assigning percentages or weighting benchmarks in sales cycle, so that he can estimate the expected revenue generated.

For example:

A supermarket sales person can assign probabilities to benchmarks in sale cycle as providing needs analysis (25 % probability), adding new product (50%Probability) , Remove a product ( 75 % probability), closing sale (100% Probability) . If these probabilities are large, then forecast model can be objective.

_____________________________________________________

So just like that by assigning probabilities to benchmarks, a sales person can forecast future sales

rusak2 [61]2 years ago

6 0

Answer:

Probability can be used to help a sales person forecast future sales best my showing the likelihood of a certain event occurring. The sales person can then plan around the events that are deemed to be the most likely to occur.

Explanation:

100%Attempt 1 Complete

You might be interested in

2.27 is a terminating decimal true or false??

IRINA_888 [86]

Answer:

true

Step-by-step explanation:

5 0

2 years ago

Read 2 more answers

I need help with this question please

Marina86 [1]

Answer:

Step-by-step explanation:

√14 cannot be rewritten as the ratio of two integers and thus is irrational.

Similarly, √99 is irrational; √99 = √9√11 is irrational even though √9 is not.

3 0

2 years ago

A growth medium is inoculated with 1,000 bacteria, which grow at a rate of 15% each day. What is the population of the culture 6

Leto [7]

<h2>Number of bacteria after 6 days is 2313</h2>

Step-by-step explanation:

Population after n days is given by

$P_n=P_0(1+r)^n$

Initial population, P₀ = 1000

Increase rate, r = 15 % = 0.15

Number of days, n = 6

Substituting

$P_n=P_0(1+r)^n\\\\P_6=1000(1+0.15)^6\\\\P_6=1000(1.15)^6\\\\P_6=1000\times 2.313\\\\P_6=2313$

Number of bacteria after 6 days = 2313

7 0

3 years ago

Read 2 more answers

Use the work shown to find the solutions of the quadratic equation. x2 – x –3/4=0 x2 – x = 3/4

bija089 [108]

Answer:

x = - $\frac{1}{2}$ , x = $\frac{3}{2}$

Step-by-step explanation:

Given

x² - x - $\frac{3}{4}$ = 0

Multiply through by 4 to clear the fraction

4x² - 4x - 3 = 0

Consider the factors of the product of the coefficient of the x² term and the constant term which sum to give the coefficient of the x- term

product = 4 × - 3 = - 12 and sum = - 4

The factors are + 2 and - 6

Use these factors to split the x- term

4x² + 2x - 6x - 3 = 0 ( factor the first/second and third/fourth terms )

2x(2x + 1) - 3(2x + 1) = 0 ← factor out (2x + 1) from each term

(2x + 1)(2x - 3) = 0

Equate each factor to zero and solve for x

2x + 1 = 0 ⇒ 2x = - 1 ⇒ x = - $\frac{1}{2}$

2x - 3 = 0 ⇒ 2x = 3 ⇒ x = $\frac{3}{2}$

8 0

3 years ago

Help me please ASAP

Mashutka [201]

Answer: $\frac{5}{35}$

Step-by-step explanation:

Since, the total number of contestant = 7,

Thus, the probability that out of 3 contestant, me and my friend is chosen

= $\frac{2_C_2\times 5_C_1}{7_C_3}$

= $\frac{\frac{2!}{2!0!}\times \frac{5!}{1!\times 4!}}{\frac{7!}{4!\times 3!}}$

= $\frac{1\times 5}{\frac{7\times 6\times 5\times 4!}{4!\times 6}}$

= $\frac{5}{35}$

⇒ Third Option is correct.

4 0

3 years ago