Jay’s Bikes is a family-owned and -operated business that stocks a wide range of bikes designed to fit the needs of professional riders, your child’s first bike, and everything in between. The business has 12 full-time employees. Jay has asked you to create a spreadsheet from the data in Figure 2-21to calculate average IT spending so that it can be compared to the retail industry average. What is the average IT spending in the retail industry? What is the average IT spending per employee in the retail industry? How do Jay’s IT expenditures compare to the industry averages? How much would Jay need to increase spending in order to match the retail industry average?
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