THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 100

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)?

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Definitions:

Going Rate

The current average or standard price for goods or services in a particular market or industry.

Lottery

A form of gambling involving the drawing of numbers at random for a prize.

Annuity

A financial instrument that provides a regular sequence of payments to a person, mainly serving as a source of income for those who have retired.

Rate of Return

The gain or loss of an investment over a specified period, expressed as a percentage of the investment's initial cost.