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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?
how to work out National Income?
Suppose you buy call options on Microsoft stock. Each option costs $2 and has the strike price of $40 and the expiration date July 1. Discuss whether you would exercise the options
It is reported that 16% of American households use a cell phone exclusively for their telephone service. In a sample of eight households, find the probability that: A) None use a c
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You have two bags of polymer. Bag A has 10 kgs of polymer with weight average molecular weight of 336.6 kg and Bag B has 20kg of polymer with weight average molecular weight 392.7k
Suppose the inverse demand curve for a market is equal to p = 100 -- 0.3Q. The inverse market supply curve is p = 20 + 0.5Q. 1. Calculate the equilibrium price and quantity;
One of the main tenets of economic analysis is that people act in their own narrow interests. Why, then, do people leave tips in restaurants? If a study were to compare the size of
Suppose one of your clients is four years away from retirement and has only $1,500 in pretax income to devote to either a Roth or a traditional IRA. The traditional IRA permits inv
Suppose the consumption function is C = $500 billion + 0.55Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially
What is the opportunity cost of economic growth? Opportunity cost measures the cost of an economic option within terms of the next best option foregone. The government of a
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