5.16 A salesperson receives an annual salary of $6,000 plus 8% of the value of the orders...

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5.16 A salesperson receives an annual salary of $6,000 plus 8% of the value of the orders she takes. The annual value of these orders can be represented by a random variable with a mean of $600,000 and a standard deviation of $180,000. Find the mean and standard deviation of the salesperson’s annual income.

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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