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    Utilization and Retention

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    John runs a commercial vehicle servicing plant that takes in vehicles for a check-up every month
    The annual attrition rate of customers bringing their vehicles to the yard is 0.28 (28%)
    What is the monthly retention rate for the customers of vehicles brought to the yard?

    This is a lifetime value problem, I think the formula is:
    1 - at.rate ^ 1/12
    ??? Is it?

    © BrainMass Inc. brainmass.com March 4, 2021, 8:42 pm ad1c9bdddf
    https://brainmass.com/math/algebra/utilization-retention-188361

    Solution Summary

    The solution assists with determining the monthly retention rate for the customers of vehicles brought to the yard.

    $2.49

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