The annual salary of the staff members in a state government agency are shown here. The first column shows the annual salary (S) and the second column the frequency (the number of employees earning that salary) labeled F. The mean salary of agency's staff is: S F $120,000 1 91,000 2 86,000 4 65,000 10 57,500 24 44,000 10 a $61,098 b $60,195 c $59,306 d $58,429

The annual salary of the staff members in a state government agency are shown here. The first column shows the annual salary (S) and the second column the frequency (the number of employees earning that salary) labeled F. The mean salary of agency's staff is: S F $120,000 1 91,000 2 86,000 4 65,000 10 57,500 24 44,000 10 a $61,098 b $60,195 c $59,306 d $58,429

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter20: The Problem Of Adverse Selection Moral Hazard

Section: Chapter Questions

Problem 3MC

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16 The weekly salary of sales staff of a department store are shown below. "f" is the frequency or the number of staff members earning the stated salary (x). Salary Frequency x f $590 7 680 6 940 29 980 10 1540 2 1880 1 The mean weekly salary is _______. a $868 b $913 c $961 d $1,012
22 The annual salary of the staff members in a state government agency are shown here. The first column shows the annual salary (S) and the second column the frequency (the number of employees earning that salary) labeled F. The mean salary of agency's staff is: S F $120,000 1 91,000 2 86,000 4 65,000 10 57,500 24 44,000 10 m
Tom is a salesman. The following are the details regarding source of his income. Base weekly salary = $350 Sales commission = 12% of price the item sold Average price of items sold = $270 Average weekly number of items sold, E(x) = 30 Standard deviation of number of items sold per week, sd(x) = 6.8 Number of weeks a year Tom works = 48 25 Tom's average annual earnings is ________. a $65,042 b $63,456 c $61,908 d $60,398
9 10 11 12 answer only
Please no written by hand solutions You need to hire some new employees to staff your startup venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee ValueProbability$55,0000.1$64,0000.1$73,0000.1$82,0000.1$91,0000.1$100,0000.1$109,0000.1$118,0000.1$127,0000.1$136,0000.1 The expected value of hiring one employee is ? Suppose you set the salary of the position equal to the expected value of an employee. Assume that employees will not work for a salary below their employee value. The expected value of an employee who would apply for the position, at this salary, is ? Given this adverse selection, your most reasonable salary offer (that ensures you do not lose money) is ? .
This is question 13.7
24 John works in an appliance store. His sales commission depends on the number of units sold per period, and the overall average price of all units sold. The following is a report of his sales effort in a given month. The report shows the price and the percent of total units sold at that price. Percent of total units Item Price sold A $1,640 10% B 1270 25% C 860 35% D 460 20% E 200 10% The overall mean price of all items sold is, a $930.64 b $912.39 c $894.50 d $876.96
a1 = (E1/0.1) = (150/0.1) = 45.8. is not make sense. How come?
a) There are several environmental factors that can impact a government’s financial condition. Some factors are more difficult to measure or assign probabilities to. Which of the following environmental factors is the most difficult to measure or assign a probability to? Group of answer choices 1: Business activity. 2: Rate of inflation. 3: Revenue restrictions. 4: Political culture and climate.
8.11
5 What is the z-score that bounds a tail area of 0.15? a 1.10 b 1.07 c 1.04 d 1.01
17) If Qs = -50 + 10p, and Qd = 400 - 20p, what is the equilibrium quantity?A) 25B) 146.6C) 360D) 120E) 100.

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22	The annual salary of the staff members in a state government agency are shown here. The first column shows the annual salary (S) and the second column the frequency (the number of employees earning that salary) labeled F.

	The mean salary of agency's staff is:
		S	F
		$120,000	1
		91,000	2
		86,000	4
		65,000	10
		57,500	24
		44,000	10
a	$61,098
b	$60,195
c	$59,306
d	$58,429