Each Salesperson in a Large Department Store Chain Is Rated

question 80

Multiple Choice

Each salesperson in a large department store chain is rated on their sales ability and their potential for advancement. The data for the 500 sampled salespeople are summarized in the following table. What is the probability that a salesperson selected at random will have average sales ability and good potential for advancement?

• A) 0.09
• B) 0.12
• C) 0.30
• D) 0.525

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Definitions:

Capital

Refers to financial assets or the financial value of assets, such as cash and goods, used by a business to fund its operations and growth.

Fees Earned

Income received from providing services, typically recognized in the accounting period when the services are rendered.

Wage Expense

The total cost incurred by a company for the salaries and wages of its employees.

Withdrawals

Sums of money withdrawn by the business owner(s) for private expenses.