Tom is a salesman. The following are the details regarding source of his income. Base weekly salary =$350 Sales commission =12%of price the item sold Average price of items sold =$270 Average weekly number of items sold, E(x) =30 Standard deviation of number of items sold per week, sd(x) =6.8 Number of weeks a year Tom works =48 25Tom's average annual earnings is ________.a$65,042 b$63,456 c$61,908 d$60,398

Average annual earnings is the average income earned by an employee in a fiscal year. It is…

Answered: Tom is a salesman. The following are…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Tom is a salesman. The following are the details regarding source of his income.

Base weekly salary =	$350
Sales commission =	12%	of price the item sold
Average price of items sold =	$270
Average weekly number of items sold, E(x) =	30
Standard deviation of number of items sold per week, sd(x) =	6.8
Number of weeks a year Tom works =	48

25	Tom's average annual earnings is ________.
a	$65,042
b	$63,456
c	$61,908
d	$60,398

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