Question
In: Statistics and Probability
About 5% of hourly paid workers in a region earn the prevailing minimum wage or less....
About 5% of hourly paid workers in a region earn the prevailing minimum wage or less. A grocery chain offers discount rates to companies that have at least 30 employees who earn the prevailing minimum wage or less. Complete parts (a) through (c) below.
(a) Company A has 287 employees. What is the probability that Company A will get the discount? (Round to four decimal places as needed.)
(b) Company B has 501 employees. What is the probability that Company B will get the discount? (Round to four decimal places as needed.)
(c) Company C has 1009 employees. What is the probability that Company C will get the discount? (Round to four decimal places as needed.)
Solutions
orchestra answered 2 years agoRelated Solutions
About 5% of hourly paid workers in a region earn the prevailing minimum wage or less....
About 5% of hourly paid workers in a region earn the prevailing
minimum wage or less. A grocery chain offers discount rates to
companies that have at least 30 employees who earn the prevailing
minimum wage or less. Complete parts (a) through (c) below. (a)
Company A has 299 employees. What is the probability that Company A
will get the discount?
If firms increase the hourly wage paid to all workers then (all else the same) this...
If firms increase the hourly wage paid to all workers then (all
else the same) this will tend to:
Group of answer choices
increase the price of the goods sold by the firms because of a
decrease in supply.
increase the price of the goods sold by the firms because of an
increase in supply.
decrease the price of the goods sold by the firms because of a
decrease in supply.
decrease the price of the goods sold by the...
True or False. The FLSA does not require employers to pay hourly workers a minimum wage...
True or False. The FLSA does not require employers to pay hourly
workers a minimum wage or overtime?
Write a program that calculates pay for either hourly paid workers or salaried workers. Hourly paid...
Write a program that calculates pay for either hourly paid
workers or salaried workers. Hourly paid workers are paid their
hourly pay rate times the number of hours worked. Salaried workers
are payed their regular salary plus any bonus they may have earned.
The program should declare two structures for the following
data:
• Hourly Paid
◦HoursWorked
◦ HourlyRate
• Salaried
◦ Salary
◦ Bonus
The program should also declare a structure with two members.
Each member should be a...
What percentage of American workers get paid above minimum wage?
What percentage of American workers get paid above minimum wage?
In general, why do such workers get paid more than the
government-mandated minimum wage?
1. What percentage of American workers get paid above minimum wage? In general, why do such workers get paid more than the government-mandated minimum wage?
1. What percentage of American workers get paid above minimum
wage? In general, why do such workers get paid more than the
government-mandated minimum wage?2. Based on your previous responses, do you believe that the
minimum wage should be raised, lowered, remain as it currently is,
or be altogether eliminated? If you think there should be a
minimum wage, how would you arrive at the specific
wage?
A study reported that, all else the same, a 10% increase in the hourly minimum wage reduced annual hours of employment of young workers by 5%.
Agree or disagree and explain.A study reported that, all else the same, a 10% increase in the
hourly minimum wage reduced annual hours of employment of young
workers by 5%.a. Assuming this information is correct: is the wage-elasticity
of demand for the labor for young workers about -2 or about -0.5
(that is, 2 or 0.5 in absolute value)? Briefly explain.b. Assuming the elasticity estimate from part “a” is
correct, would increasing the minimum wage increase the annual
earnings of youth?...
What is the BENEFIT to low wage workers (workers whose wage is near the minimum wage)...
What is the BENEFIT to low wage workers (workers whose wage is
near the minimum wage) of raising the minimum wage?
Suppose that the U.S. government increases the legal minimum wage. Assume that most of the workers employed in the production of coffee are paid the legal minimum wage rate.
write a paragraph addressing question below and create a basic
graph describingSuppose that the U.S. government increases the legal
minimum wage. Assume that most of the workers employed in the
production of coffee are paid the legal minimum wage
rate.Will this affect the supply or the demand for coffee?
Why?Which determinant of demand or supply is being
affected?Create a graph with before- and after-curves on the
same axes.How will this change the equilibrium price and quantity
of coffee, assuming all...
2. The minimum wage law specifies a minimum price for hourly wages of the most of...
2. The minimum wage law specifies a minimum price for hourly
wages of the most of the workers. Assume that the minimum effective
wages (that is, above equilibrium) for workers who are not highly
qualified. Analyze the impact of said law on the salary and
employment of said workers, particularly the employment of
foreigners. (14 points)
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