Author Question: The number of standard deviations z that a particular value of r is from the mean ? can be computed ... (Read 172 times)

wrbasek0 · **on:** Jul 1, 2018

The number of standard deviations z that a particular value of r is from the mean ? can be computed as z = (r - ?)/ . Suppose that you work as a commission-only insurance agent earning 1,000 per week on average. Suppose that your standard deviation of weekly earnings is 500 . What is the probability that you earn zero in a week? Use the following brief z-table to help with this problem. Z value Probability -3 .0013 -2 .0228 -1 .1587 0 .5000
a. 1.3 chance of earning nothing in a week
b. 2.28 chance of earning nothing in a week
c. 15.87 chance of earning nothing in a week
d. 50 chance of earning nothing in a week
e. none of the above

Question 2

If a car salesman is paid a fixed commission when he sells a car, the owner is most likely to see
a. Large margins on sales
b. Low margins on sales
c. No sales
d. None of the above