Instruction 12 -Referring to Instruction 12

question 155

Short Answer

Instruction 12.39
The managers of a brokerage firm are interested in finding out if the number of new customers a broker brings into the firm affects the sales generated by the broker. They sample 12 brokers and determine the number of new customers they have enrolled in the last year and their sales amounts in thousands of dollars. These data are presented in the table that follows.
$$\begin{array} { | l | l | l | } \hline \text { Broker } & \text { Clients } & \text { Sles } \\\hline 1 & 27 & 52 \\\hline 2 & 11 & 37 \\\hline 3 & 42 & 64 \\\hline 4 & 33 & 55 \\\hline 5 & 15 & 29 \\\hline 6 & 15 & 34 \\\hline 7 & 25 & 58 \\\hline 8 & 36 & 59 \\\hline 9 & 28 & 44 \\\hline 10 & 30 & 48 \\\hline 11 & 17 & 31 \\\hline 12 & 22 & 38 \\\hline\end{array}$$
-Referring to Instruction 12.39,suppose the managers of the brokerage firm want to obtain a 99% confidence interval estimate for the mean sales made by brokers who have brought into the firm 24 new customers.The confidence interval is from __________ to __________.

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Definitions:

Runout

A term that describes the maximum deviation or variation of an object from its intended perfect form or the total movement of a rotational part.

Points

Specific locations or positions in space, defined by coordinates in a given reference frame, often with no physical size.

Position

The location or arrangement of something in relation to other entities.

Geometric Tolerance

A type of tolerance that defines the form, orientation, location, and runout of a feature on a part.