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Sears rates its salespersons according to their sales ability and their potential for advancement. They sampled 500 salespeople with following data: Potential for Advancement Fair Good Excellent below Average 16 12 22 Average 45 60 45 Above Average 93 72 135 (a) Calculate the probability that a randomly selected Sear's salesperson has above average sales ability and is an excellent potential for advancement? (b) Calculate the probability that a randomly selected Sear's salesperson will have average sales ability and good potential for advancement? (c) Calculate the probability that a randomly selected Sear's salesperson will have below average sales ability and fair potential for advancement? (d) Calculate the probability that a randomly selected Sear's salesperson will have an excellent potential for advancement given they also have above average sales ability? (e) Calculate the probability that a randomly selected Sear's salesperson will have an excellent potential for advancement given they also have average sales ability?
Suppose a company is considering two investment projects. Both projects require an upfront expenditure of $30 million. The company estimates that the cost of capital is 10% and tha
An increase in growth rates will cause the production possibilities curve to a. shift inward. b. become steeper. c. become flatter. d. shift outward.
DEFINE IS CURVES AND DRIEVE IT
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.
Do some research and find the inflation rate and the level of unemployment in the U.S. economy for the past 40 years. Is there a relationship between the two? If so, what type of r
"Nearly all critics agree that consumers have the most benefits in a perfectly competitive market." Does the above statement apply to microeconomics or macroeconomics? Why? Think a
assuming that B=0.33 Y1998=[0.33]Y1998 Estimate the permanent income for 1998
Explain why anti-trust legislation supports a perfectly competitive market. Give at least one specific example of legislation to justify your explanation.
Determine the principle of equity The principle of equity is that a tax must be fair and the tax is levied on those with the ability to pay tax. The principle of efficiency
Examine two (2) tenets of the mercantilist school. Determine whether you agree or disagree with these principles. Provide at least two (2) reasons to support your answer
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