Chelsea Lee runs the sales division for a local auto insurance firm. One of her key duties is to calculate her company's market share. When evaluating the prior year's numbers, she found that her firm achieved total sales of $3 million and the entire industry had $30 million in sales. What is Chelsea Lee's current market share?

Question

Quizplus · Accepted Answer

Chelsea Lee's market share is calculated by dividing her firm's sales ($3 million) by the total industry sales ($30 million) and then multiplying by 100 to get a percentage. This calculation gives ($3 million / $30 million) * 100 = 10%.

Chelsea Lee Runs the Sales Division for a Local Auto