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Each Salesperson in a Large Department Store Chain Is Rated

question 71

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Each salesperson in a large department store chain is rated with respect to sales potential for advancement. These traits for the 500 salespeople were cross-classified into the following table: Each salesperson in a large department store chain is rated with respect to sales potential for advancement. These traits for the 500 salespeople were cross-classified into the following table:   What is the probability that the selected salesperson has below average sales ability or has a fair potential for advancement? A)  16/500 B)  16/154 C)  300/500 D)  188/500 E)  204/500 What is the probability that the selected salesperson has below average sales ability or has a fair potential for advancement?


Definitions:

Time Period Assumption

An accounting principle that the life of a business can be divided into discrete time periods, such as months and years, for reporting purposes.

Operating Cycle

The duration of time it takes for a company to purchase inventory, sell the goods, and collect cash from the sale.

Dividends Declared

A firm's announcement of the payment of a dividend to shareholders by a specified date, representing a commitment to distribute a portion of earnings.

Net Income

The net income of a company, calculated by removing all costs and taxes from the total sales.

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