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

question 73

Short Answer

SCENARIO 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 Scenario 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 confidence interval is from _____ to _____ .

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Definitions:

Book Balance

The balance in a company's accounting records for a particular account, which may differ from the actual cash balance until reconciled.

Purchasing Department

A division within a company responsible for acquiring goods and services needed for its operations.

Purchase Order

A document issued by a buyer to a seller, indicating the types, quantities, and agreed prices for products or services.

Vendor

A business or person that sells goods or services.