Michael,Inc

question 39

Essay

Michael,Inc. ,a manufacturer of electric guitars,is a small firm with 50 employees.The table below shows the hourly wage distribution of the employees.

a.How many employees receive hourly wages of at least $18?
b.What percentage of the employees has hourly wages of at least $18?
c.What percentage of the employees has hourly wages of less than $14?

---

Definitions:

Voting Shares

Shares that give the shareholder the right to vote on company matters, such as electing directors and approving major company decisions.

Net Assets

represent the residual interest in the assets of an entity after deducting its liabilities.

Fair Market Value

An estimate of the price at which an asset would change hands between willing buyers and sellers in an arms-length transaction.

Book Value

The net value of a company's assets, subtracting liabilities from the total assets, often used to determine a company's worth.