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The Sales Manager of a Large Multinational Corporation Is Concerned

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The sales manager of a large multinational corporation is concerned that some salespersons perform very well and others quite poorly.To help analyze the problem he draws a random sample of 20 salespersons, determines their commission incomes (in thousands of dollars), and calculates the following statistics: The sales manager of a large multinational corporation is concerned that some salespersons perform very well and others quite poorly.To help analyze the problem he draws a random sample of 20 salespersons, determines their commission incomes (in thousands of dollars), and calculates the following statistics:   = $37.2, and s = $7.8.Do these statistics provide sufficient evidence at the 5% significance level to conclude that the population variance exceeds $35 million<sup>2</sup>? = $37.2, and s = $7.8.Do these statistics provide sufficient evidence at the 5% significance level to conclude that the population variance exceeds $35 million2?


Definitions:

Cash Over And Short

An account used to report minor discrepancies between physical cash amounts and accounting records.

Receipts For Disbursements

These are documents that serve as proof of payment transactions, such as the payment of expenses or the distribution of cash.

Petty Cash Fund

A minimal sum of money kept in reserve for covering minor costs that aren't worth issuing a check for.

Petty Cash Custodian

The person responsible for managing a small amount of cash for minor, routine business expenses.

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