Anne-Marie Cole Runs the Sales Division for a Local Auto

question 52

Multiple Choice

Anne-Marie Cole runs the sales division for a local auto insurance firm.One of her key duties is to ensure the company has 10 percent market share by the end of the year.When evaluating the current sales numbers, she determines that her sales division has total sales of $3 million and the entire industry has total sales of $50 million.What additional sales must Anne-Marie's division meet to ensure they have 10 percent of the market by the end of the year?

• A)$1 million
• B)$2 million
• C)$5 million
• D)$10 million

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Definitions:

Inferential Statistics

A branch of statistics that allows for making predictions or inferences about a population based on a sample.

Probabilities

Quantitative measures that indicate the likelihood of a specific event or outcome occurring.

Associations

Relationships or connections between two or more variables, where changes in one variable are related to changes in another.

Predictions

Forecasts or anticipations about future events based on current evidence or trends.