Question

A chain of hotels plans to sell timeshares within their properties using a marketing call list. Typically, they can reach 30% of persons on the marketing list. Of those contacted, 25% agree to a follow-up appointment with a member of the hotel chain's sales team. Of those who agree to a follow-up appointment, 10% purchase a time share. What percent of persons on the marketing list actually purchase a timeshare? %

Answer 1

To find the percentage of persons on the marketing list who actually purchase a timeshare, multiply the probabilities of each event happening: 0.30 x 0.25 x 0.10 = 0.75%.

Step-by-step explanation:

To find the percentage of persons on the marketing list who actually purchase a timeshare, we need to multiply the probabilities of each event happening.

First, 30% of persons on the marketing list can be reached. Next, of those contacted, 25% agree to a follow-up appointment. Then, of those who agree to a follow-up appointment, 10% purchase a timeshare.

We can calculate the probability of all three events happening by multiplying the probabilities: 0.30 x 0.25 x 0.10 = 0.0075.

To express the result as a percentage, we multiply by 100: 0.0075 x 100 = 0.75%. Therefore, 0.75% of persons on the marketing list actually purchase a timeshare.