Instruction 12-4
the Managers of a Brokerage Firm Are Interested

question 12

Short Answer

Instruction 12-4
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.
$\begin{array}{ccc}\text { Broker}&\text {Clients }&\text {Sales }\\\hline1 & 27 & 52 \\2 & 11 & 37 \\3 & 42 & 64 \\4 & 33 & 55 \\5 & 15 & 29 \\6 & 15 & 34 \\7 & 25 & 58 \\8 & 36 & 59 \\9 & 28 & 44 \\10 & 30 & 48 \\11 & 17 & 31 \\12 & 22 & 38\end{array}$
-Referring to Instruction 12-4,the managers of the brokerage firm wanted to test the hypothesis that the true slope was equal to 0.The value of the test statistic is ________.

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Definitions:

Isoquant Curve

A graph showing different combinations of inputs that produce the same level of output, illustrating the trade-offs in input usage.

Production Function

A mathematical representation of the relationship between inputs used in production and the output produced from those inputs.

Inputs

Inputs employed in the manufacturing process, such as workforce, investment, substances, and power.

Marginal Product

The extra output produced when one more unit of input is added, keeping all other inputs constant.