A Company Keeps Extensive Records on Its New Salespeople on the Premise

question 100

Essay

A company keeps extensive records on its new salespeople on the premise that sales should increase with experience. A random sample of seven new salespeople produced the data on experience and sales shown in the table. $\begin{array}{c|c}\text { Months on Job } & \begin{array}{c}\text { Monthly Sales } \\\text { (\$ thousands) }\end{array} \\\hline 2 & 2.4 \\4 & 7.0 \\8 & 11.3 \\12 & 15.0 \\1 & .8 \\5 & 3.7 \\9 & 12.0\end{array}$

Summary statistics yield $S S _ { x x } = 94.8571 , S S _ { x y } = 124.7571 , S S _ { y y } = 176.5171 , \bar { x } = 5.8571$ , and $\bar { y } = 7.4571$ . Calculate a $90 \%$ confidence interval for $E ( y )$ when $x = 5$ months. Assume $s = 1.577$ and the prediction equation is $\hat { y } = - .25 + 1.315 x$ .

Grasp the significance of time-related documents and their role in allocating labor costs to jobs.

Understand the purpose and use of materials requisition in manufacturing and merchandising companies.

Grasp the application and mechanics of job order cost accounting systems, including the treatment of overhead costs.

Learn the role and processing of time tickets and clock cards in attributing labor costs to jobs.

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Definitions:

Lab Reports

Written accounts of the procedure, results, and conclusions from experiments conducted in a laboratory setting.

Discussion

A detailed treatment or analysis of a particular subject, often involving the exchange of viewpoints and ideas.

Ultrasonic Irradiation

The application of high-frequency sound waves to materials or substances, often used for cleaning, mixing, or accelerating chemical processes.

Mannose-6-phosphorylated

A term related to biochemistry, referring to a mannose sugar molecule that has been phosphorylated at the 6th position.