How many estimates does it take to land a project

I have often wondered, how many estimates it takes on average before a job turns into reality and is awarded? So I decided to keep track in January, at least for the first 3 weeks, as I am headed of on the road again, I have to publish my results now.

Inquires; A phone call or email, checking availability or questions about a possible project

Estimates; When an inquiry turns into a request for an estimate of costs on the possible project

Pending: Jobs that have been estimated, but a decision on moving forward has not been made.

Awarded; The project and budget were approved and the job was produced or will be produced.

In conclusion, for this sample its about 4 to 1, inquires that turn into projects. Which seems about average, I have had better months and much worse months. And if I can land one of the pending projects for a hotel chain, I won't have time to keep track of estimates or make pie charts and line graphs!