There Is a 60% Chance That Customer Without a Smart

question 9

Short Answer

There is a 60% chance that customer without a smart phone will buy one this year. There is a 95% chance that a customer with a smart phone will continue with a smart phone going into the next year. If 30% of target market currently own smart phones, what proportion of the target market is expected to own a smart phone next year?

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Definitions:

Enforceable

Describes a legal agreement or contract that can be upheld or compelled by law or by a court.

Covenant Not To Compete

A contractual promise to refrain from competing with another party for a certain period of time and within a certain geographic area. Although covenants not to compete restrain trade, they are commonly found in partnership agreements, business sale agreements, and employment contracts. If they are ancillary to such agreements, covenants not to compete will normally be enforced by the courts unless the time period or geographic area is deemed unreasonable.

Restriction

A restriction refers to a limitation or condition placed on the use, development, or transfer of property or rights.

Intoxicated

A state of being under the influence of drugs or alcohol to the extent that mental and physical capabilities are significantly impaired.