The General Manager of a Chain of Furniture Stores Believes

question 26

Essay

The general manager of a chain of furniture stores believes that experience is the most important factor in determining the level of success of a salesperson. To examine this belief she records last month's sales (in $1,000s) and the years of experience of 10 randomly selected salespeople. These data are listed below. Predict with 95% confidence the monthly sales of a salesperson with 10 years of experience.
CI = ______________ Enter (n1, n2) in thousands
Estimate with 95% confidence the average monthly sales of all salespersons with 10 years of experience.
CI = ______________ Enter (n1, n2) in thousands
Which interval in the previous two questions is narrower: the confidence interval estimate of the expected value of y or the prediction interval for the same given value of x (10 years) and same confidence level?
______________
Why?
________________________________________________________

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Definitions:

Stable Dividends

Dividends that are consistently paid out by a company at a steady rate, regardless of the company's earnings fluctuations.

Ex-Dividend Date

The date on which a stock trades without a declared dividend that has yet to be paid. Four days prior to the date of record.

Business Days

Workdays typically from Monday to Friday, excluding public holidays and weekends, used in the context of official and financial transactions.

Record Date

The specific date set by a company on which the shareholders must be on the company's books to be eligible to receive a dividend or vote.