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1. A large regional real estate company keeps records of home sales for each of its sales agents. Each month, the company publishes the sales
1. A large regional real estate company keeps records of home sales for each of its sales agents. Each month, the company publishes the sales volume for each agent. Monthly sales volume is defined as the total sales price of all homes sold by the agent during a month. The figure below displays the cumulative relative frequency plot of the most recent monthly sales volume (in hundreds of thousands of dollars) for these agents. Cumulative Relative Fequency 2 3 4 5 6 7 8 9 10 11 12 Monthly Sales Volume (in hundreds of thousands of dollars) a) In the context of this question, explain what information is conveyed by the circled point at (3, 0.4) b) What proportion of sales agents achieved monthly sales volumes between $700,000 and $800,000? c) For values between 10 and 11 on the horizontal axis, the cumulative relative frequency plot is flat. In the context of this question, explain what this means. d) A bonus is given to 20% of sales agents. Those who achieved the highest monthly sales volume during the preceding month will receive a bonus. What is the minimum monthly sales volume an agent must have achieved to qualify for the bonus
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