SCENARIO 13-4 The Managers of a Brokerage Firm Are Interested in Finding

question 45

Short Answer

SCENARIO 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.

-Referring to Scenario 13-4,the managers of the brokerage firm wanted to test the hypothesis that the population slope was equal to 0.For a test with a level of significance of 0.01,the null hypothesis should be rejected if the value of the test statistic is .

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Definitions:

Supply

The overall quantity of a particular product or service that is accessible to buyers.

Demand

The desire and ability of consumers to purchase a good or service at a given price.

Price

The amount of money required to purchase a good, service, or resource.

Quantity

Quantity refers to the amount or number of units of a product or service available or demanded in the market.