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

question 16

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,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 t critical value they would use is ________.

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Definitions:

Senior Partner

A higher-ranking or more experienced partner in a business or law firm, often involved in decision-making processes.

Job Burnout

A state of physical, emotional, or mental exhaustion combined with doubts about one's competence and the value of work.

Bank Managers

Individuals responsible for overseeing the daily operations of a bank branch, including managing staff, meeting financial targets, and ensuring customer satisfaction.

Age Discrimination

The unfair treatment of individuals based on their age, particularly in employment practices.