A Group of Employees of Unique Services Will Be Surveyed

question 32

Multiple Choice

A group of employees of Unique Services will be surveyed about a new pension plan. In-depth interviews with each employee selected in the sample will be conducted. The employees are classified as follows: What is the probability that the first person selected is either in maintenance or in secretarial?

• A)0.200
• B)0.015
• C)0.059
• D)0.001

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Definitions:

ATC

Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.

Economic Profits

Profits exceeding the opportunity costs of a company; considered an indicator of efficiency and entrepreneurship.

Average Total Cost

The total cost of production divided by the total quantity of goods produced, representing the cost per unit.

Average Variable Cost

The cost of labor and materials divided by the quantity of output produced, reflecting costs that change with the level of output.