Data from Established Manufacturing Companies in Morocco Shows That the Number

question 5

Multiple Choice

Data from established manufacturing companies in Morocco shows that the number of years' experience a sales person has is correlated with their average yearly sales. The correlation coefficient ( r) is 0.62. Calculate, to 1 decimal place, the percentage of variation in sales that is accounted for by experience.

• A) 62.0%
• B) 61.6%
• C) 45.3%
• D) 38.4%

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Definitions:

Principal

The main party to a transaction or contract, such as a company, individual, or entity, which has authorized others to act on its behalf.

Agent

A person or entity authorized to act on behalf of another person or entity (the principal), typically within the scope of business or legal matters.

Indemnify The Agent

To protect the agent against losses, damages, or liabilities arising from their actions while performing their duties.

Tort Liability

Legal responsibility arising from a civil wrong or injury that does not involve a contract breach, leading to legal liability.