The Managers of a Corporation Were Surveyed to Determine the Background

question 65

Multiple Choice

The managers of a corporation were surveyed to determine the background that leads to a successful manager.Each manager was rated as being either a good, fair, or poor manager by his/her boss. The manager?seducational background was also noted. The data appear below. Given that a manager is only a fair manager,what is the probability that this manager has a college degree? $\begin{array}{l}\text {\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad Educational Background }\\\begin{array} { r | c c c c | c } \begin{array} { c } \text { Manager } \\\text { Rating }\end{array} & \text { H. S. Degree } & \text { Some College } & \text { College Degree } & \text { Master's or Ph.D. } & \text { Totals } \\\hline \text { Good } & 7 & 2 & 22 & 8 & 39 \\\text { Fair } & 8 & 19 & 48 & 12 & 87 \\\text { Poor } & 3 & 6 & 4 & 21 & 34 \\\hline \text { Totals } & 18 & 27 & 74 & 41 & 160\end{array}\end{array}$

• A) \(\frac { 16 } { 29 }\)
• B) \(\frac { 3 } { 10 }\)
• C) \(\frac { 37 } { 80 }\)
• D) \(\frac { 74 } { 87 }\)

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Definitions:

Selling Price

The amount for which a good or service is sold, determining the revenue generated from sales activities.

Variable Cost

Costs that change in proportion to the level of activity or volume of production in a business.

Fixed Costs

Costs that do not vary with the level of output or sales, such as rent, salaries, and insurance expenses.

Depreciation

Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life.