A Group of Employees of Unique Services Will Be Surveyed

question 103

Multiple Choice

A group of employees of Unique Services will be surveyed about a new pension plan. In-depth interviews with each employee selected in the sample will be conducted. The employees are classified as follows.

-What is the probability that the first person selected is either in maintenance or in secretarial?

• A)0.200
• B)0.015
• C)0.059
• D)0.001

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Definitions:

Supply of Money

The total amount of money available in an economy at a specific time, including currency and deposits.

Value of Money

The purchasing power of monetary units, indicating how much goods or services one unit of money can buy; it generally decreases with inflation.

Money Demand

The desire of households and firms to hold cash for the purposes of transactions, precaution, and speculation.

Surplus of Money

Surplus of Money occurs when the supply of money in an economy exceeds the demand, potentially leading to lower interest rates and increased spending.