Martin Coleman, credit manager for Back's knows that the company uses three methods to encourage collection of delinquent accounts. From past collection records, he learns that 70 percent of the accounts are called on personally 20 percent are phoned, and 10 percent are sent a letter. The probabilities of collecting an overdue amount from an account with the three methods are 0.75, 0.60, and 0.65 respectively Mr. Coleman has just received payment from a past due account. What is the probability that this account.
- Was called on personally?
- Received a phone cal?
- Received a letter?
Solution
