An Insurance Agent Has Appointments with Four Prospective Clients Tomorrow

Multiple Choice

An insurance agent has appointments with four prospective clients tomorrow. From past experience the agent knows that the probability of making a sale on any appointment is 1 out of 5. Using the rules of probability, what is the likelihood that the agent will sell a policy to 3 of the 4 prospective clients?

A) 0.250
B) 0.500
C) 0.410
D) 0.026
E) None of the choices are correct