Each Salesperson in a Large Department Store Chain Is Rated

question 27

Multiple Choice

Each salesperson in a large department store chain is rated on his or her sales ability and 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:

Operating Profit

The profit earned from a firm's normal business operations, excluding deductions of taxes and interest.

Markdown

A reduction in the selling price of goods or services, often used as a sales strategy to encourage consumer purchases or to clear older stock.

Mark-up

The difference between the cost of a product or service and its selling price, expressed as a percentage of the cost.

Spoilage

Products or materials that have become unfit for sale or use, often leading to financial loss for a business.