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:

Loanable Funds

The total amount of funds available in the financial markets for borrowing, which determines the market interest rates.

U.S. Grocery Chain

A set of related supermarkets or grocery stores operating under a similar brand or management in various locations across the United States.

Warehouse

A warehouse is a large building where goods are stored before they are distributed for sale or further processing.

Open-Economy Macroeconomic Model

A framework used in economics to analyze the interactions between a country's economy and the international market, focusing on trade flows, exchange rates, and capital movements.