Question
Grand Company awards bonuses to its sales force based on sales performance. The measure of performance for awarding bonuses is the percentage achieved above the
Grand Company awards bonuses to its sales force based on sales performance. The measure of performance for awarding bonuses is the percentage achieved above the sales target. Based on this metric, a salesperson is placed into one of five bonus bands and awarded bonus points. Below is the award table:
Intervals | Bonus point |
0~20% | 0 |
20~50% | 10 |
50~80% | 15 |
80~100% | 25 |
100%+ | 40 |
It is greater than or equal to the lower limit and strictly less than the upper limit. After all salespeople are placed in a band and awarded points, each is awarded a percentage of the bonus pool, based on the percentage of the total points awarded. So, if there were two salespeople (Bob and Mary). Bob got 20 bonus points and Mary got 30 bonus points. The total is 50 points. Bob gets 20/50 or 40% of the bonus pool and Mary gets 30/50 or 60% of the bonus pool. The bonus pool is $200,000 for this year. Below are the salespeople and % above target sales values:
Name | % Above Target Sales |
Robert | 23% |
Chloe | 64% |
Marisa | 5% |
Ryan | 108% |
Sophie | 78% |
Build a spreadsheet with a table lookup to determine the following for each salesperson (using both vlookup and index-match functions):
Please provide your answer by Excel File
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started