THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 131

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A personnel officer for a firm that employs many part time salespeople tries out a sales aptitude test on several hundred applicants.Because the test is unproven,results are not used in hiring.Forty percent of applicants show high aptitude on the test and 12% of those hired both show high and achieve good sales records.The firm's experience shows that 30% of all salespeople achieve good sales.Let A be the event "shows high aptitude" and let B be the event "achieves good sales".
-What is P(A ∩B)?

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Definitions:

Negative Income Tax

A tax system that collects revenue from high-income households and gives subsidies to low-income households.

Family Income

The total amount of money earned by members of a family, typically measured annually.

Negative Income Tax

A welfare system that provides income support by offering a direct transfer of funds to individuals whose income falls below a certain threshold.

Tax Revenue

The revenue that governments acquire from taxes.