Compute the Linear Correlation Coefficient Between the Two Variables and Determine

question 11

Multiple Choice

Compute the linear correlation coefficient between the two variables and determine whether a linear relation exists.
-A manager wishes to determine whether there is a relationship between the number of years her sales representatives have been with the company and their average monthly sales. The table shows the years of service for each of her sales representatives and their average monthly sales (in thousands of dollars) .
$\begin{array}{l|c|c|c|c|c|c|c|c|c}\text { Years with company, } x & 4 & 5 & 12 & 9 & 10 & 17 & 5 & 3 & 13 \\\hline \text { Sales, } y & 21 & 23 & 68 & 52 & 55 & 51 & 38 & 45 & 110\end{array}$

• A) \(r = 0.632\); no linear relation exists
• B) \(\mathrm { r } = 0.632\); linear relation exists
• C) \(\mathrm { r } = 0.717\); linear relation exists
• D) \(\mathrm { r } = 0.717\); no linear relation exists

Calculate adjusted cash balances using reconciling items.

Understand the role of internal controls in managing cash.

Distinguish between cash, cash equivalents, and other types of financial instruments.

Understand the implications of NSF checks and bank service charges on cash management.

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Definitions:

Agency Shop Agreements

Labor agreements that require employees to pay union fees even if they are not union members as a condition of employment, supporting the union's bargaining efforts on their behalf.

Grievance Arbitration

A procedure used in labor relations to resolve disputes or grievances between employees (or their representatives) and employers through the intervention of a neutral third party or arbitrator.

Standards of Justice

Established benchmarks or principles used to evaluate the fairness or equity of actions or laws.

Sympathy Strike

A labor strike by workers in one union in support of workers in another union who are engaged in a dispute with their employer.