Question

A consulting company conducts a survey of 21 telecom company's sales people, and finds the average...

A consulting company conducts a survey of 21 telecom company's sales people, and finds the average salesperson has $100,000 in sales per year, and that there is a sample standard deviation of $10,000.

a) In order to be in the top 10% of sales people, how much or more must a salesperson sell per year?

b) In order to be in the bottom 5% of sales people, how much or less must a salesperson sell per year?

c) In order to be in the top 0.5% of sales people, how much or more must a salesperson sell per year?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1) In a survey, 21 people were asked how much they spent on their child's last...
1) In a survey, 21 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $49 and standard deviation of $3. Find the margin of error at a 95% confidence level. Give your answer to two decimal places. 2) The effectiveness of a blood-pressure drug is being investigated. An experimenter finds that, on average, the reduction in systolic blood pressure is 65.5 for a sample of size 445...
Famighetti Company's income statement for the most recent year appears below: Sales (20,000 units)…………………………………. $600,000 Less:...
Famighetti Company's income statement for the most recent year appears below: Sales (20,000 units)…………………………………. $600,000 Less: Variable expenses……………………………….360,000 Contribution margin………………………………… 240,000 Less: Fixed expenses…………………………………..242,000 Net operating loss………………………………… $(2,000) 1) How many units does the company need to sell in order to generate net income of $35,000? 2) Refer to the original information in the problem. The sales manager is convinced that a $50,000 expenditure on advertising will increase the company's unit sales by 25% without any other increase in fixed...
The Electronics Division of Far North Telecom, Ltd., of Canada manufactures an electrical switching unit that...
The Electronics Division of Far North Telecom, Ltd., of Canada manufactures an electrical switching unit that can be sold either to outside customers or to the Fiber Optics Division of Far North Telecom. Selected operating data on the two divisions are given below: Electronics Division Unit selling price to outside customers            80 Variable production cost per unit Variable selling and administrative    52 Expense per unit Fixed production cost in total Fiber Optics Division: 9 Outside purchase price per unit (before...
The Electronics Division of Far North Telecom, Ltd., of Canada manufactures an electrical switching unit that...
The Electronics Division of Far North Telecom, Ltd., of Canada manufactures an electrical switching unit that can be sold either to outside customers or to the Fiber Optics Division of Far North Telecom. Selected operating data on the two divisions are given below: Electronics Division Unit selling price to outside customers 80 Variable production cost per unit 52 Variable selling and administrative    Expense per unit 9 Fixed production cost in total 300,000* Fiber Optics Division: Outside purchase price per...
Suppose you are a salesperson and your company's CRM forecasts that your quarterly sales will be...
Suppose you are a salesperson and your company's CRM forecasts that your quarterly sales will be substantially under quota. You call your best customers to increase sales, but no one is willing to buy more. Your boss says that it has been a bad quarter for all the salespeople. It's so bad, in fact, that the vice president of sales has authorized a 20 percent discount on new orders. The only stipulation is that customers must take delivery prior to...
Suppose you are a salesperson and your company's CRM forecasts that your quarterly sales will be...
Suppose you are a salesperson and your company's CRM forecasts that your quarterly sales will be substantially under quota. You call your best customers to increase sales, but no one is willing to buy more. Your boss says that it has been a bad quarter for all the salespeople. It's so bad, in fact, that the vice president of sales has authorized a 20 percent discount on new orders. The only stipulation is that customers must take delivery prior to...
6. A company has a lump-sum incentive plan for its sales staff that is dependent on...
6. A company has a lump-sum incentive plan for its sales staff that is dependent on their level of sales. If they sell less than $100,000 per year they receive a $1000 bonus; from $100,000 to $200,000 they receive $5,000; and above $200,000 they receive $10,000. If the annual sales (per salesperson) follow a normal distribution with mu=$160,000 and sigma=$40,000: a. Find the proportion of salespeople who receive a $1000 bonus.   (4 pts) b. Find the proportion of salespeople who receive...
Suppose you are a salesperson and your company's CRM forecasts that your quarterly sales will be...
Suppose you are a salesperson and your company's CRM forecasts that your quarterly sales will be substantially under quota. You call your best customers to increase sales, but no one is willing to buy more. Your boss says that it has been a bad quarter for all the salespeople. It's so bad, in fact, that the vice president of sales has authorized a 20 percent discount on new orders. The only stipulation is that customers must take delivery prior to...
Question 11 A retailer finds that the demand for a very popular board game averages 100...
Question 11 A retailer finds that the demand for a very popular board game averages 100 per week with a standard deviation of 20. If the seller wishes to have adequate stock 90% of the time, how many of the games must she keep on hand? a. 139.2 b. 125.6 c. 132.9 d. 100.0 e. 195.0 Question 13 A new car salesperson knows that he sells cars to one customer out of 20 who enter the showroom. The probability that...
1. During the first week of a search advertising campaign, your ad was served to 10,000...
1. During the first week of a search advertising campaign, your ad was served to 10,000 people and you are paying on average $3.35 PPC. It the CTR is 1.35%, then how much did you spend in the first week? 2. Your display advertising campaign is priced at 13.12 CPM with a CTR of 0.05%. What is the total cost of 100,000 impressions? 3.You are deciding whether or not to purchase a display advertising campaign on a CPC or CPM...