During the Work Sampling of a File Clerk's Activity, It

question 23

Multiple Choice

During the work sampling of a file clerk's activity, it is noted that the employee is speaking on the telephone during 76 of 300 observations. How much of the employee's time is spent on the phone if the employee works 7 hours a day?

• A) 1.77 hours
• B) 3.28%
• C) 3.94 hours
• D) 9.2%

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Definitions:

Pure Monopolist

An entity that is the sole provider of a particular product or service, facing no competition in its market.

Economic Profits

Profits exceeding the total costs of production, including both explicit and implicit costs, representing gains above what could be earned in the next best alternative use of resources.

Pure Monopolist

A market participant who exclusively controls the supply of a particular good or service, without competition or substitute products.