Each Salesperson in a Large Department Store Chain Is Rated

question 20

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 below average sales ability and fair potential for advancement?

• A) 0.032
• B) 0.10
• C) 0.16
• D) 0.32
• E) None of the choices are correct

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Definitions:

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, bank deposits, and other liquid assets.

Money Demand Curve

A graph showing the relationship between the quantity of money that people hold and the interest rate, indicating how the demand for money changes as interest rates vary.

Price Level

The general level of prices for goods and services in an economy, often measured by a price index.

Federal Reserve

The central banking system of the United States, which conducts the nation's monetary policy, regulates banks, maintains the stability of the financial system, and provides financial services to depository institutions, the U.S. government, and foreign official institutions.