Assume that the salaries are set in accordance with job competence and the overall quality of sales representatives is about the same in the two travel companies.
Each salesperson at Cherry Tree Hospitality Service is rated either below average, average, or above average with respect to sales ability. Each salesperson is also rated with respect to his or her potential advancement – either fair, good, or excellent. These traits for the 500 salesperson in this large corporation were cross-classified into the following table. You must show your work for this problem
| Potential for Advancement
Sales Ability Fair Good Excellent
| Below average 16 12 22
Average 45 60 45
Above average 93 72 135
The Dow Jones Industrial Average has reached 27,164 points this week. An investment advisor specialized in Travel Company stocks predict that the stocks of five travel companies she is following will rebound in the next 18 months. From this advisor’s records on stock picks, 40 percent of the stocks she recommends are profitable.
The weekly amount spent by an event management company for travel has approximately a normal distribution with a mean of $2,500 and a standard deviation of $400. If $3,000 is budgeted to cover next week’s travel expenses
What is the probability that the actual expenses will exceed the budgeted amount?
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