1. A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons.
a. Based on the Excel output, what is the Pearson correlation coefficient for the years of experience and annual sales? Interpret this and write a conclusion about your answer. (5 points) b. Based on the Excel output, write the estimated simple linear regression equation to predict the annual sales from the years of experience. Interpret the values of your regression coefficients. (5 points) c. Based on the Excel output, what is the coefficient of determination? Interpret this and write a conclusion about your answer. (5 points) d. Use the estimated regression equation in (b) to predict annual sales (in dollars) for a salesperson with 15 years of experience. Show your solution. Write a conclusion about your answer. (5 points)
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1. A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons.
7. A sales manager collected the following data on annual sales for new customer accounts and...
7. A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Salesperson Years of Experience 1 Annual Sales ($1000s) 80 97 92 102 103 2 3 file ales 3 4 4 6 8 10 10 11 13 6 7 8 9 10 111 119 123 117 136 a. Develop a scatter diagram for these data with years of experience as the independent variable....
A sales manager collected the following data on annual sales for new customer accounts and the number of years of exper...
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Years of Experience Annual Sales ($1000s) Salesperson 80 100 119 138 153 166 168 171 180 194 The data on y = annual sales ($1000s) for new customer accounts and <= number of years of experience for a sample of 10 salespersons provided the estimated regression equation ý = 72.36 + 15.21x. For...
7. A sales manager collected the following data on annual sales for new customer accounts and...
7. A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons a. Develop a scatter diagram for these data with years of experience as the independent variable. b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience. c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of...
A sales manager collected the following data on annual sales for new customer accounts and the...
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Years of Annual Sales Salesperson Experience ($1000s) 1 1 80 2 75 N 3 4 79 4 6 81 5 7 83 6 8 91 7 9 104 8 11 99 9 12 14 110 10 109 The data on y = annual sales ($1000s) for new customer accounts and 2 = number...
A sales manager collected the following data on x = years of experience and y =...
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ý = 81 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 107 103 101 119 8 9 10 10 11 13 123 127 136 (a) Compute SST, SSR, and SSE. SST = SSR = SSE = (b) Compute the coefficient of determination 2. (Round your answer to three decimal places.) 12...
A sales manager collected the following data on x = years of experience and y =...
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ŷ = 80 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 97 4 4 102 5 6 103 6 8 101 7 10 119 8 10 118 9 11 127 10 13 136 (a) Compute SST, SSR, and SSE. SST= SSR= SSE= (b) Compute...
Interpret the coefficients of the regression equation. Predict the sales volume of a salesperson with 9...
Interpret the coefficients of the regression equation. Predict the sales volume of a salesperson with 9 years of experience. Find the coefficient of determination. Briefly explain what it means.
A sales manager collected the following data on x = years of experience and y =...
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is y = 82 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 80 97 102 107 103 101 119 o 128 11 127 10 13 136 (a) Compute the residuals. (a) Compute the residuals. Years of Experience Annual Sales ($1,000s) Residuals 102 107 103 101 119 128 127 136 Construct a residual plot....
A sales manager collected the following data on annual sales for new customer accounts and the...
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Annual Sales Years of Salesperson Experience ($1000) 80 76 86 81 91 115 118 127 132 10 10 a. Compute the residuals and choose a residual plot for this problem (to 1 decimal)
A sales manager collected the following data on x = years of experience and y =...
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ý = 80 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136 (a) Compute the residuals. Years of Experience Annual Sales ($1,000s) Residuals...
7. A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Salesperson Years of Experience 1 Annual Sales ($1000s) 80 97 92 102 103 2 3 file ales 3 4 4 6 8 10 10 11 13 6 7 8 9 10 111 119 123 117 136 a. Develop a scatter diagram for these data with years of experience as the independent variable....
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Years of Experience Annual Sales ($1000s) Salesperson 80 100 119 138 153 166 168 171 180 194 The data on y = annual sales ($1000s) for new customer accounts and <= number of years of experience for a sample of 10 salespersons provided the estimated regression equation ý = 72.36 + 15.21x. For...
7. A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons a. Develop a scatter diagram for these data with years of experience as the independent variable. b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience. c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of...
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Years of Annual Sales Salesperson Experience ($1000s) 1 1 80 2 75 N 3 4 79 4 6 81 5 7 83 6 8 91 7 9 104 8 11 99 9 12 14 110 10 109 The data on y = annual sales ($1000s) for new customer accounts and 2 = number...
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ý = 81 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 107 103 101 119 8 9 10 10 11 13 123 127 136 (a) Compute SST, SSR, and SSE. SST = SSR = SSE = (b) Compute the coefficient of determination 2. (Round your answer to three decimal places.) 12...
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is y = 82 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 80 97 102 107 103 101 119 o 128 11 127 10 13 136 (a) Compute the residuals. (a) Compute the residuals. Years of Experience Annual Sales ($1,000s) Residuals 102 107 103 101 119 128 127 136 Construct a residual plot....
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Annual Sales Years of Salesperson Experience ($1000) 80 76 86 81 91 115 118 127 132 10 10 a. Compute the residuals and choose a residual plot for this problem (to 1 decimal)
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ý = 80 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136 (a) Compute the residuals. Years of Experience Annual Sales ($1,000s) Residuals...
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