A New Sales Person Is Paid a Commission on Each

question 70

Multiple Choice

A new sales person is paid a commission on each sale.This person made $2,000 in commission his first month on the job.From this he concludes that he will make $24,000 during his first year.This is an example of _______.

• A)inferential statistics
• B)nominal data
• C)descriptive statistics
• D)deferential statistics
• E)nonparametric statistics

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Definitions:

Milkshakes

A sweet, creamy beverage made by blending milk, ice cream, and flavorings or sweeteners such as butterscotch, caramel sauce, or chocolate syrup.

Utility-Maximizing

The process or strategy of selecting the combination of goods and services that provides the highest level of satisfaction or utility to an individual.

Pizza

A popular dish of Italian origin, consisting of a flat round base of dough baked with a topping of tomato sauce and cheese, often with added meats, vegetables, or other ingredients.

Soda Pop

A carbonated soft drink available in various flavors, often sweetened and served chilled.