Employees at a Large Computer Company Earn Sick Leave in One-Minute

question 86

Multiple Choice

Employees at a large computer company earn sick leave in one-minute increments depending on how many hours per month they work. They can then use the sick leave time any time throughout the year. Any unused time goes into a sick bank account that they or other employees can use in the case of emergencies. The human resources department has determined that the amount of unused sick time for individual employees is uniformly distributed between 0 and 480 minutes. Based on this information, what is the probability that three randomly chosen employees have over 400 unused sick minutes at the end of the year?

• A) 0.1667
• B) 0.0046
• C) 0.5001
• D) 0.0300

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Definitions:

Multiplier Value

A factor that quantifies the impact of a change in some economic activity on the rest of the economy.

MPC (Marginal Propensity to Consume)

A measure of the change in consumption resulting from a change in income; specifically, the proportion of additional income that is spent on consumption.

Multiplier

A factor by which an initial change in spending will alter total economic output by a greater amount.

Multiplier Effect

The proportionate increase in final income that results from an injection of spending (initial increase in spending), typically influencing the level of national income and output.