TABLE 13-4
the Managers of a Brokerage Firm Are

question 10

Short Answer

TABLE 13-4
The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker. They sample 12 brokers and determine the number of new clients they have enrolled in the last year and their sales amounts in thousands of dollars. These data are presented in the table that follows.
$\begin{array}{lll}\text { Broker } & \text { Cliente } & \text { Sales } \\1 & 27 & 52 \\2 & 11 & 37 \\3 & 42 & 64 \\4 & 33 & 55 \\5 & 15 & 29 \\6 & 15 & 34 \\7 & 25 & 58 \\8 & 36 & 59 \\9 & 28 & 44 \\10 & 30 & 48 \\11 & 17 & 31 \\12 & 22 & 38\end{array}$


-Referring to Table 13-4, suppose the managers of the brokerage firm want to obtain both a 99% confidence interval estimate and a 99% prediction interval for X = 24. The confidence interval estimate would be the_____ (wider or narrower) of the two intervals.

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Definitions:

Self-Correcting

The ability of an individual or system to recognize and correct its own errors or inefficiencies without external intervention.

Guidelines

Recommendations or principles that suggest a course of action or provide direction in specific situations.

Throughputs

Processes or activities that transform inputs into outputs within a system or operation.

Inputs

Resources, information, or efforts contributed towards a process or system in order to achieve output.