Each Salesperson in a Large Department Store Chain Is Rated

question 15

Multiple Choice

Each salesperson in a large department store chain is rated with respect to sales potential for advancement. These traits for the 500 salespeople were cross classified into the following table. What is the probability that a salesperson selected at random will have average sales ability and good potential for advancement?

• A) 0.09
• B) 0.12
• C) 0.30
• D) 0.525
• E) None of the choices are correct

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Definitions:

Slope

A measure of the steepness or inclination of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Vertical Axis

In graphing, the y-axis that typically represents the variable being measured or dependent variables.

Marginal Changes

Small, incremental adjustments to an existing plan of action, often considered in decision making and economic analysis.

Other-things-equal Assumptions

A principle in economics which suggests that the effect of one economic variable on another can be determined by holding all other influencing factors constant, commonly referred to as ceteris paribus.