There is a bonus structure in place that gives salespeople a $1000 bonus for producing sales levels of at least $15,000 in a month and a $500 bonus for producing sales levels between $13,000 and $15,000 in a month. Salespeople receive no bonus for producing sales levels less than $13,000. 

What is the expected value of the bonus payout per salesperson?

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To calculate the expected value of the bonus payout per salesperson we ... View the full answer