SCENARIO 12-4
the Managers of a Brokerage Firm Are Interested

question 188

Short Answer

SCENARIO 12-4
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. $\begin{array}{lll}\text { Broker } & \text {Clients} & \text {Sales }\\1 & 27 & 52 \\2 & 11 & 37 \\3 & 42 & 64 \\4 & 33 & 55 \\5 & 15 & 29 \\6 & 15 & 34 \\7 & 25 & 58 \\8 & 36 & 59 \\9 & 28 & 44 \\10 & 30 & 48 \\11 & 17 & 31 \\12 & 22 & 38\end{array}$
-Referring to Scenario 12-4, suppose the managers of the brokerage firm want to construct a 99%confidence interval estimate for the mean sales made by brokers who have brought into the firm24 new clients.The confidence interval is from to .

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Definitions:

Performance Evaluation

A process of assessing how effectively an individual, system, or organization meets its objectives.

Reward System

A structured program designed to recognize and reward desired behaviors or achievements, often used in organizational settings.

Incentive Pay

A form of compensation designed to reward employees for achieving specific performance targets or objectives.

Personal Days

Employer-provided leave days that employees can use for personal matters apart from sick or vacation days.