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

question 3

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.
-Referring to Table 13-4, 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 firm 24 new clients. The t critical value they would use is ________.

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Definitions:

Competitive Advantage

The unique attributes or capabilities that allow an organization to achieve higher margins or sales compared to its competitors, leading to a dominant position in the market.

Minimally Supervised

Situations or roles where individuals are given the autonomy to perform their duties with little to no ongoing direct oversight.

Company Culture

The shared values, beliefs, attitudes, and practices that characterize an organization and influence its employees' behavior and attitudes.

Technically-Oriented

Describes individuals or organizations that focus heavily on technical aspects of a job or field, prioritizing technical skills and knowledge.