Based on grossman and hart (1983). a salesperson for fuller brush has three options: (1) quit, (2) put forth a low level of effort, or (3) put forth a high level of effort. suppose for simplicity that each salesperson will sell $0, $5000, or $50,000 worth of brushes. the probability of each sales amount depends on the effort level as described in the file p07_71.xlsx. if a salesperson is paid w dollars, he or she regards this as a "benefit" of w1y2 units. in addition, low effort costs the salesperson 0 benefit units, whereas high effort costs 50 benefit units. if a salesperson were to quit fuller and work elsewhere, he or she could earn a benefit of 20 units. fuller wants all salespeople to put forth a high level of effort. the question is how to minimize the cost of encouraging them to do so. the company cannot observe the level of effort put forth by a salesperson, but it can observe the size of his or her sales. thus, the wage paid to the salesperson is completely determined by the size of the sale. this means that fuller must determine w0, the wage paid for sales of $0; w5000, the wage paid for sales of $5000; and w50,000, the wage paid for sales of $50,000. these wages must be set so that the salespeople value the expected benefit from high effort more than quitting and more than low effort. determine how to minimize the expected cost of ensuring that all salespeople put forth high effort. (this problem is an example of agency theory.)

first option

a function is a relation in which an input is paired with exactly one output.

so, let's find the right answer.

in our first option, our inputs are january, february, and march. the outputs are 30, 28, and 25. each input has it's own output. this is correct!

our second option we know is incorrect, because ms. valverade has two outputs, dogs and cats. this is not a function.

our third option is incorrect as well. the yellow square has two ouputs, the square and the triangle.

lastly, in our fourth option, we see the number 7 two times with a different output. therefore, this is not a function.

remember: each input must be paired with only one output!

a

step-by-step explanation:

a

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.

y = 2x

step-by-step explanation:

if you divide each number in the sequence, you'll see that they all have a multiple factor of 2. each number in the series, and any other numbers which may continue, will be multiplied by 2. therefore, y is the next number in the sequence, and x is the current one, so, our formula will be y = 2x.