$-19.$ EXCEL APPLICATION: IT Benchmarks

ay's Bikes is a family$-$owned and $-$operated business that stocks a wide range of ikes designed to fit the needs of professional riders, your child's first bike, and everything in between. The business has $12$ full$-$time employees. Download the Excel file Ch$02$Ex$01($Figure $2\mathrm{.}2119)$ to calculate average IT spending so that it can be compared with the retail industry average. Recall that average IT spending in the retail industry is about $2$ percent of revenue. How do Jay's IT expenditures compare with the industry average? How much would Jay need to change spending in order to match the retail industry average?

Figure $2\mathrm{.}21$ Jay's Bikes revenue and IT expenditures.

$\backslash$table$[[4,$A$,$B$,,$C$],[1,$Revenue,Apparel & shoes,$$,1,250,000$