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

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

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.9P

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bartleby, a Learneo, Inc. business

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