Solving the problem on marginal probability

Reference no: EM1321072

Question: A life insurance salesman finds that, of all the "sales he makes, 70 percent are to people who already own policies. He also finds that, of all contacts for which no sale is made, 50 percent already own life insurance policies. Furthermore, 40 percent of all contacts result in sales. What is the probability that a sale will be made to a contact who already owns a policy?

Reference no: EM1321072

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