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

question 92

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 prediction for the amount of sales (in $1,000s)for a person who brings 25 new customers into the firm is ________.

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Definitions:

Satisfied Customers

Individuals who have had their expectations met or exceeded by a product or service, leading to a positive perception of the business.

Probability

A representation of event likelihood, numerically expressed within a 0 to 1 scale.

Normal Model

A type of statistical distribution that is symmetric and bell-shaped, describing how data values are dispersed or spread out.

Good First Serves

A term generally used in tennis indicating the number of successful initial serves in a match.