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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?
Determine Why banks raise their interest rates A way to explain why banks raise their interest rates is as follows. With higher overnight interest rates, it is more expensive fo
(40 points) Consider two consumers, A and B. A and B both want perfect consumption smoothing (c = cf) and both have no current wealth. However, the two consumers have different inc
Composition and Direction of Trade: The impact of trade reforms can be observed from the changing structure of India's foreign trade in terms of diversity of production
List and briefly describe the principal causes of high population growth in developing countries and the major consequences.
Suppose there are two investors. One has a project to build a factory; the other has a project to visit casino and gamble on roulette. Which investor has a greater incentive to iss
A restaurant/bar is analyzing its pricing of beer. It has determined that the price elasticity of demand for beer is 0.8, the cross-price elasticity for wine with respect to the pr
Over long spans of time, macroeconomies typically grow, but over short spans there are fluctuations in output and prices known as ____ ?
Suppose that the economy is characterized by the following behavioral equations: C= 170 + 0.7YD I= 170 G= 150 T= 100 a. What does equilibrium output equal? Y=? b. What d
The number of gallons of paint that Home Depot sells in a given day is normally distributed with a mean of 150 gallons and a standard deviation of 35 gallons (I realize that the di
what would be effect of fiscal and monetry policy on price and output level if meges are flexible and rigied?
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