A company launched a sales campaign and appointed 110 salesmen for this purpose. At the end of the period the sales results were analysed and the following information was obtained. Sales ('000 Number of Salesmen Sales ('000- Number of Salesmen 4 50-55 55-60 75-80 18 7 80-85 12 60-65 10 85-90 10 65-70 20 90 and above 70-75 22 It was decided to group the salesm en into three categories: (i) Those whose sales were less than dollar 68,000, (ii) those whose sales were more than Dollar 68,000, but less t han dollar 86,000, and (iii) those w hose sales exceeded Dollar 86,000. The salesmen in the first category were to be given further training an d those in the third category to be given efficiency bonus of 2% of thei r sales. Find how many will be train ed and how much bonus will be pai d ? State the assumptions, if any.
A company launched a sales campaign and appointed 110 salesmen for this purpose. At the end of the period the sales results were analysed and the following information was obtained. Sales ('000 Number of Salesmen Sales ('000- Number of Salesmen 4 50-55 55-60 75-80 18 7 80-85 12 60-65 10 85-90 10 65-70 20 90 and above 70-75 22 It was decided to group the salesm en into three categories: (i) Those whose sales were less than dollar 68,000, (ii) those whose sales were more than Dollar 68,000, but less t han dollar 86,000, and (iii) those w hose sales exceeded Dollar 86,000. The salesmen in the first category were to be given further training an d those in the third category to be given efficiency bonus of 2% of thei r sales. Find how many will be train ed and how much bonus will be pai d ? State the assumptions, if any.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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