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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?
farmer grows a bushel of wheat & sells it to a miller for Rs. 1.00. The miller turns the wheat into flour & then sells the flour to a baker for RS. 3.00. The baker uses the flour
Company A owns a patent with 15 years of remaining life. Company B is paying royalties to Company A for a license to the patent. It is estimated that royalty payments (end-of- year
Describe the differences between the substitution effect of a wage increase and the income effect of a wage increase.
What are the important aspects in tracking the macro-economy? Important aspects in tracking the macro-economy: a. How economists utilizes aggregate measures to track the pre
Desired Aggregate Spending Desired aggregate spending refers to the volume of purchases of the currently produced goods and services that all spending units in the economy wish
The Marginal Costs (MC) for a firm is given by the function MC=50x. Please find the Marginal Revenues (MR) for each of the following scenarios (if appropriate). Then, find the prof
Analyze the relationship between the production possibilities curve and the circular flow diagram. Discuss how the change of production possibilities curve affects the circular flo
Q. Illustrate the Says Law? With Say's Law, aggregate demand would always be equal to aggregate supply and cross model would be incorrect. Keynes's argument as to why Say's
Assume that a Mazda 2 sells for 16,000 Australian dollars in Australia and 10,000 Canadian dollars in Canada If purchasing-power parity holds, what is the Canadian dollar/Australia
If taxes and government expenditures were constant and did not vary with income, then: A. passive deficits would increase. B. structural deficits would increase. C. passive deficit
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