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Probability & Profit
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[QUOTE="Graham, post: 3724333"] I'm having a problem creating a formula to calculate % profit, despite being able to calculate it mentally! A product costs £10, and either has to sell for £100, or be thrown away. The probability of it selling is 1 in 5 (or 20%). Therefore if I make 10 at a cost of £100, I will sell 2 @ £100 each taking £200, or 100% profit on my outlay. What formula and/or function will calculate this for me ? Any advice much appreciated ? [/QUOTE]
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