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The following probability distribution was subjectively assessed for the number of sales a salesperson would make if he or she made five sales calls in one day.
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.The probability on a given day that the salesperson will make one sale and that it is medium is 0.09.
Quasi Pension Plans
Programs that mimic traditional pension plans but typically offer more flexibility and are often funded by the employees, sometimes with employer contributions.
Monetary Reward
Financial compensation given to employees as a form of acknowledgment for their work performance or achievement.
Kilograms
A unit of mass in the metric system, equivalent to one thousand grams.
Stock Options
Financial instruments that grant the holder the right to buy or sell shares of a company's stock at a specific price within a specified period.
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