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Jun 21st, 2016, 05:34 PM
#1
Determine Number Based on Percentage
I am an insurance sales guy and I need to determine how many quotes I need to give in order to write a certain amount of policies based on my close ratio, and I don't know how to calculate that. For example, if I have a close ratio of 9.6% how many quotes do I need to give in order to write 23 policies?
Edit - After some painstaking thinking... I think I may have got it.
You would convert the description to: 9.6% * X = 23
Then you would convert the equation to: 9.6 / 100 * X = 23
To get: 0.096 * X = 23
Then you would divide both sides by 0.096 to get: X = 239.58
So I would need to quote 240 people to write 23 policies.
Could someone confirm this?
Last edited by dday9; Jun 21st, 2016 at 05:47 PM.
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Jul 2nd, 2016, 12:22 PM
#2
Re: Determine Number Based on Percentage
you're right.
I set these problems up as ratios by saying 9.6 is to 100 like 23 is to x...
9.6/100 = 23/x
x = (23*100)/9.6 = 239.58
Last edited by kebo; Jul 2nd, 2016 at 02:29 PM.
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