Each Salesperson in a Large Department Store Chain Is Rated

question 68

Multiple Choice

Each salesperson in a large department store chain is rated on their sales ability and their potential for advancement. The data for the 500 sampled salespeople are summarized in the following table.

-What is the probability that a salesperson selected at random will have below average sales ability and fair potential for advancement?

• A)0.032
• B)0.10
• C)0.16
• D)0.32

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Definitions:

Inform Consumers

The practice of providing customers with relevant and accurate information about products, services, and their impact, enabling informed purchasing decisions.

Market Segmentation

The practice of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors.

Meaningfully Shared Characteristics

Traits or aspects that are significantly common within a group or category, enhancing understanding or identification.

Price-Quality Relationship

The perceived value of a product or service based on its price, often leading consumers to associate higher prices with higher quality.