Maya Is Compensated Using a Salary-Plus-Commission Basis for Her Work

question 56

Multiple Choice

Maya is compensated using a salary-plus-commission basis for her work. Her annual base salary is $32,000. During a semimonthly pay period she made $18,500 in sales, for which she receives a 2% commission. Her gross pay for the semimonthly period is ________. (Do not round interim calculations. Round final answer to 2 decimal places.)

• A) $1,333.33
• B) $1,523.55
• C) $1,693.54
• D) $1,703.33

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Definitions:

Least Squares Regression

A statistical method used to determine the line of best fit by minimizing the sum of squares of the differences between observed values and those predicted by a linear model.

P-value

The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.

Significant

Indicating a statistically meaningful relationship or difference in data, often determined by achieving a p-value below a predefined threshold.

Least Squares Regression

A statistical method used to determine the line of best fit by minimizing the sum of squares of the residuals.