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Each salesperson in a large department store chain is rated on their sales ability and their potential for advancement. The data for the 500 sampled salespeople are summarized in the table below:Sales Ability: Fair Good ExcellentBelow Average 16 12 22Average 45 60 45Above Average 93 72 135
(a) What is the probability that a salesperson selected at random has above average sales ability and is an excellent potential for advancement?
(b) What is the probability that a salesperson selected at random will have average sales ability an and good potential for advancement?
(c) What is the probability that a salesperson selected at random will have below average sales ability and fair potential for advancement?
(d) What is the probability that a salesperson selected at random will have an excellent potential for advancement given they also have above average sales ability?
(e) What is the probability that a salesperson selected at random will have an excellent potential for advancement given they also have average sales ability?
A Study of pharmacies in the San Fran. area found the prices charged for 100 tablets of medicine to be approx. normally distributed, with a mean price of $8.50 and a standard deviation of $2. Find the probability that a particular San Fran.
One farmer can grow 1,500 bushels of corn on 2 acre of land with 300 hours of labor and 25 pounds of seed. Another farmer can grow 1,500 bushels of corn on 1 acre of land with 200 hours of labor and 25 pounds of seed.
Suppose you lend $20,000 at a 7.5% interest rate to a friend for one year. At the time of the loan your expected rate of inflation is 2.5% while your friend's expected rate of inflation is 2.9%. However, by the end of that year prices have increas..
Find the price elasticity of demand (at every price range) for the demand given below. Characterize the demand as elastic/inelastic/unit elastic at each one of these price ranges. P Qd 120 80 100 72 80 65 60 60
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $40,000 while a market researcher receives $20,000. The marginal contribution of engineers and market researchers are
Alchem (L) is the price leader in the polyglue market. All 10 other manufactures (follower (F) firms) sell polyglue at the same price as Alchem. Alchem allows the other firms to sell as much as they wish at the established price and supplies the r..
A Jamaican music executive leaves Kingston for New York to promote a reggae concert tour. He exchanges 100,000 Jamaican dollars for American dollars ($104 Jamaican = $1.00 US). After his stay in New York, he has to head to Tokyo (a reggae-crazy c..
The supply is simply the sum of the marginal cost curves of all the firms in the industry. Suppose that all the competitive firms collude to form one single monopoly firm. (Collusion changes neither the demand nor the cost conditions in the indust..
Suppose you have some information on a sample of investment bankers, and are interested in impacts of height and of seniority on their success.
College Financial Sources, which makes small loans to college students, offers to lend $500. The borrower is required to pay $40 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year.
a.) what is the market-clearing price b.)how much will he produce c.) what is the net profits d.) what is the elasticity of demand at the market-clearing price
A facility requires $2500000 in debt capital. The plan is to sell twenty-year bonds that pay 4.2 percent per year, payable quarterly, at a 3 percent discount on the face value. The facility has an effective tax rate of 35 percent per year.
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