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

Answers

Answer 1

Answer:

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

Answer 2

Answer:

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

Related Questions

Whats 3P2 ?please need for math
A bus travels 36 miles in 45 minutes. enter the total numbet of miles the bus travels in 60 minuted at this rate.
If an equation of the linear function in the figure above is y=mx=b, than m=
Help pls. it’s from khan academy
Prove this (sinx-tanx)(cosx-cotx)=(sinx-1)(cosx-1)

a jar contains 65 pennies 27 nickels 30 dimes and 18 quarters a coin is randomly selected from the jar find each probability

Answers

The required probabilities are $P(\text{pennies})=(13)/(28),P(\text{nickels})=(27)/(140),P(\text{dimes})=(3)/(14),P(\text{quarters})=(9)/(70)$ .

Given:

Pennies = 65

Nickels = 27

Dimes = 30

Quarters = 18

To find:

The probability of each.

Solution:

The probability formula:

$\text{Probability}=\frac{\text{Favorable outcome}}{\text{Total outcomes}}$

Total number of coins:

$65+27+30+18=140$

The probability of selecting Pennies is:

$P(\text{pennies})=(65)/(140)$

$P(\text{pennies})=(13)/(28)$

The probability of selecting nickels is:

$P(\text{nickels})=(27)/(140)$

The probability of selecting dimes is:

$P(\text{dimes})=(30)/(140)$

$P(\text{dimes})=(3)/(14)$

The probability of selecting quarters is:

$P(\text{quarters})=(18)/(140)$

$P(\text{quarters})=(9)/(70)$

Therefore, the required probabilities are $P(\text{pennies})=(13)/(28),P(\text{nickels})=(27)/(140),P(\text{dimes})=(3)/(14),P(\text{quarters})=(9)/(70)$ .

Learn more:

brainly.com/question/9721191

-7x-2y=-13
-3x-2y=-12 by substitution

Answers

Answer: x = 0.25, y = 5.625 or ( $(1)/(4)$ , $(45)/(8)$ )

Step-by-step explanation:

To solve by substitution, we will first isolate one of the variables in one of the given equations.

-7x - 2y = -13 ➜ y = -3.5x + 6.5

Then, we will substitute this into the other given equation and solve for x.

-3x - 2y = -12

-3x - 2(-3.5x + 6.5) = -12

-3x + 7x - 13 = -12

4x = 1

x = 0.25

Lastly, we will substitute this value of x into the equation we solved for to find y.

y = -3.5x + 6.5

y = -3.5(0.25) + 6.5

y = 5.625

If a 25 ft rope is cut into two sections with one section 4 times as long as the other section, how long is the shorter piece?

Answers

x - shorter piece
4x - longer piece

$x+4x=25\n 5x=25\n x=5\hbox{ ft}$

What are the next four multiples of 1/8?

Answers

So,

We just keep adding $(1)/(8)$ to the number.

$(1)/(8) ; (2)/(8) ; (3)/(8) ; (4)/(8); (5)/(8)$

an easy way is to kee p multipliying it by the numbers
1/8 times 1=1/8
1/8 times 2=2/8
1/8 times 3=3/8
1/8 times 4=4/8
1/8 times 5=5/8

PLEZ HURRY I NEED HELPPPPPP
WILL GIVE BRAINLYST

Answers

Answer:

B. $13.75.

Step-by-step explanation:

To find the bill for lunch before the tip was added, we can set up an equation using the given information.

Let's assume the bill for lunch is represented by the variable "x".

We know that Mrs. Chin paid a 20% tip on the bill, which is equivalent to 0.20x.

According to the question, the tip amount is $2.75.

So we can write the equation as:

0.20x = $2.75

To solve for x, we need to isolate it.

Divide both sides of the equation by 0.20:

x = $2.75 / 0.20

Simplifying this gives us:

x = $13.75

Therefore, the bill for lunch before the tip was added is $13.75.

What two numbers multiply into 30 but adds up to negative 11

Answers

-6 and -5 both add up to -11 and multiply to 30

-5 and -6
-5*-6 = 30, since the two factors are negative the answer is positive.
-5-6 = -11, -5-6 is the same as -5 + -6 which equals -11

Other Questions

What is the value of a.45/105 = 6/a

A. What is the median of the data set?B. What is the lower quartile of the data set?C. What is the upper quartile of the data set?

Calculate the slope of the line going through A(-4,3) and B(0,6) PLEASE ANSWER

Nathan had an infection, and his doctor wanted him to take penicillin. Because Nathan’s father and paternal grandfather were allergic to penicillin, Nathan has a 75% chance of having the same allergy. The doctor performed a skin test to see whether Nathan would react to it. The test is 98% accurate. What is the probability that Nathan is not allergic to penicillin and the test predicts it?0.0050.0150.2450.735