TABLE 12-4
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 12-4, ________% of the total variation in sales generated can be explained by the number of new clients brought in.
Definitions:
Technology
The application of scientific knowledge for practical purposes, especially in industry and in our daily lives to solve problems or create useful products.
Inventory
A company's merchandise, raw materials, and finished and unfinished products which have not yet been sold. These are considered liquid assets.
Standard Price
A predetermined cost or selling price of a product or service, often used in budgeting and accounting to measure variances in actual cost or price.
Direct Materials
Raw materials directly used in the manufacturing of a product, easily traceable to the finished product.
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