A Salesperson Has Found the Probability of Making a Sale

question 52

Short Answer

A salesperson has found the probability of making a sale on a particular product manufactured by his or her company is 0.05. If the salesperson contacts 140 potential customers, what is the probability he or she will sell at least 2 of these products?
______________

---

Definitions:

Double-Declining Balance Method

An accelerated depreciation method that doubles the normal depreciation rate, reducing the asset's book value more quickly.

Depreciable Cost

The total cost of an asset that is subject to depreciation, typically considering its purchase price less any salvage value.

Estimated Useful Life

The expected period over which an asset remains usable to the owner, impacting depreciation calculations and asset management strategies.

Land Purchase

The acquisition of land, an asset, for the purposes of business operation, investment, or development.