When the Salesperson Makes a Sale, There Are Three Possible

question 68

True/False

When the salesperson makes a sale, there are three possible sales levels: large, medium, and small. The probability of a large sale is 0.20 and the chance of a medium sale is 0.60. If a salesperson makes two sales, the probability that at least one is large is 0.36.

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Definitions:

Royalties

A share of the income of a business paid by a franchisee to the franchisor.

Innovation

The act of introducing something new, such as an idea, method, or device, to improve processes, products, or services.

C Corporation

An organizational form for businesses where shareholders, the owners, face taxation independently from the corporation.

Shareholders

Individuals or entities that own shares in a corporation, thus having a claim on part of its assets and earnings.