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An insurance agent has appointments with four prospective clients tomorrow. From past experience the agent knows that the probability of making a sale on any appointment is 1 out of 5. Using the rules of probability, what is the likelihood that the agent will sell a policy to 3 of the 4 prospective clients?
Step Change
A significant and sudden change in performance or productivity, typically for the better.
Ballpark Estimate
An approximate calculation or guess made with limited information, usually at an early stage to provide a rough idea of the expected cost or extent of a project or task.
Project Execution Plan
A document outlining the strategy, resources, and processes to be used in carrying out a project.
Planning
The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.
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