The probability of the last unit being sold is mathematically given as
x Greater than 0.75
What is the probability of the last unit being sold i?
Generally, the equation forthe Probability is mathematically given as
[tex]P= P\leq C_{u}/(C_{u}+C_{o})[/tex]
Therefore
P = 120/(120+360)
P= 120/480
P=0.25
P represents the likelihood that a unit will not be sold, whereas 1-p represents the likelihood that a unit will be sold.
1-p = 1-0.25 = 0.75
In conclusion, The likelihood of the last unit selling should be higher than 0.75
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