Many Firms Use On-The-Job Training to Teach Their Employees Computer

question 137

Multiple Choice

Many firms use on-the-job training to teach their employees computer programming. Suppose you work in the personnel department of a firm that just finished training a group of its employees
To program, and you have been requested to review the performance of one of the trainees on the
Final test that was given to all trainees. The mean and standard deviation of the test scores are 80
And 5, respectively. Assuming nothing is known about the distribution, what percentage of
Test-takers scored above 95?

• A)approximately 0.15%
• B)at least 89%
• C)at most 11%
• D)approximately 99.85%

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Definitions:

Total Costs

The combined total of fixed and variable costs involved in the manufacturing of goods or services.

Daily Profit

The financial gain a business makes in a single day, calculated by subtracting total expenses from total revenue for that day.

Marginal Costs

The advance in complete cost due to the manufacturing of one additional unit of a good or service.

Cournot Duopolists

Firms in a duopoly market structure that base their competition strategies on the quantity of output, assuming the reaction of the other firm to find an equilibrium.