THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sales representative has 425 accounts.From a random sample of 60 of these accounts,she found that the average yearly order was $1,250 with a standard deviation of $70.She also found that 28 out of 60 in the sample have placed an order in the last four weeks.
-Estimate the total amount of sales for the sales representative.
A)$297,500
B)$750,000
C)$375,640
D)$531,250

Question

Quizplus · Accepted Answer

To estimate the total amount of sales for the sales representative, multiply the average yearly order by the total number of accounts: $1,250 * 425 = $531,250.