A telemarketing supervisor tells a new worker that the odds of making a sale on a single call are 4 to 15. What is the probability of a successful call? (Enter your answer to 2 decimal places.)
To find the probability of a successful call, we can use the odds given. The odds of making a sale on a single call are given as 4 to 15.
To convert odds to probability, we need to sum the two parts of the odds (i.e., the successful outcomes and the unsuccessful outcomes) and divide the successful outcomes by the total outcomes.
In this case, the successful outcomes are 4, and the total outcomes are the sum of 4 and 15, which is 19.
So, the probability of a successful call can be calculated as:
Successful outcomes / Total outcomes = 4 / 19 = 0.21 (rounded to 2 decimal places)
Therefore, the probability of a successful call is 0.21 or 21%.
To find the probability of a successful call, we need to convert the odds ratio into a probability ratio.
The odds of making a sale on a single call are stated as 4 to 15.
The probability ratio is calculated by dividing the successful outcome (in this case, making a sale) by the total number of possible outcomes.
So, the probability ratio is: 4 / (4 + 15).
Calculating this, we get:
Probability ratio = 4 / 19 ≈ 0.21.
Therefore, the probability of a successful call is approximately 0.21 or 21%.
out of 19 calls, 4 are successful.
Pr=4/19