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trasher [3.6K]
3 years ago
6

The manager of a publishing company plans to give a $23,000 bonus to the top 12 percent, $10,000 to the next 25 percent, and $6,

000 to the next 8 percent of sales representatives. If the publishing company has a total of 220 sales representatives, what is the expected bonus that the company will pay?
Business
1 answer:
I am Lyosha [343]3 years ago
8 0

Answer:

total expected bonus = $1262800

Explanation:

given data

bonus = $23,000

Probability = 12 percent

bonus =  $10,000

Probability = 25 percent

bonus =  $6,000

Probability = 8 percent

total sales = 220

solution

first we get probability for bonus amount = $0

probability = 1 - ( 12% + 25% + 8 % )

probability =  0.55

so here Expected bonus per employee company will pay is

Expected bonus = $23000 × (0.12) + $10000 × (0.25) + $6000 × (0.08) + $0 (0.55)

Expected bonus = $5740

so total expected bonus is

total expected bonus = $5740  ×  220

total expected bonus = $1262800

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