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.
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Interpret the coefficients of the regression equation.
Predict the sales volume of a salesperson with 9...
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...
we have data of 10 stores: Column A contains years in business and column B contains...
we have data of 10 stores: Column A contains years in business and column B contains inventory volume in thousands of dollars. Do problems a-e with the use of Excel. In addition to the answers, show all your solution, including which Excel functions you used, with all the parameters. a. Develop the estimated regression equation that could be used to estimate the inventory volume given the years in business. b. Interpret the coefficients of the regression equation. c. Predict the...
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....
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...
) Interpret the value of the slope (rounded to two decimal places) in the regression equation...
) Interpret the value of the slope (rounded to two decimal places) in the regression equation found in part 1c in the context of the question, using a complete sentence. 1f) State and interpret the value of the coefficient of determination (R-sq expressed as a percentage) found in part 1c in the context of the question in a complete sentence. 1g) Use the regression equation (with both intercept and slope rounded to two decimal places) to predict the final selling...
A shoe store developed the following estimated regression equation relating sales to inventory investment and advertisi...
A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures y = 35+12r16x2 where =inventory investment ($1000s) 1 x2 = advertising expenditures ($1000s) sales ($1000s) a. Predict the sales resulting from a $15,000 investment in inventory and an advertising budget of $10,000. $ b. Interpret bi and b2 in this estimated regression equation. bi Sales can be expected to-Select your answer by $12 for every dollar increase in Select your answer is held...
Will rate, thank you in advance. Reported magazine newsstand sales were used to predict audited sales...
Will rate, thank you in advance.
Reported magazine newsstand sales were used to predict audited sales for 10 magazines. For that data, SSR = 132,184.22 and SST = 144,410.99. Complete parts (a) through (c). a. Determine the coefficient of determination, r?, and interpret its meaning. 2 (Round to four decimal places as needed.) Interpret the meaning of r2. It means that % of the variation in audited newsstand sales (Round to two decimal places as needed.) be explained by the...
A sales manager for an advertising agency believes there is a relationship between the number of...
A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this, the following data was collected: Sales ($) Contacts 25,000 15 16,000 15 28,000 20 60,000 18 80,000 46 35,000 24 85,000 45 80,000 45 95,000 55 110,000 52 Which is the: Independent variable? ___________________ Dependent variable? ___________________ Calculate the coefficient of correlation and interpret the results. Determine both the coefficient of determination and non-determination...
The general manager of a chain of furniture stores believes that experience is the most important...
The general manager of a chain of furniture stores believes that experience is the most important factor in determining the level of success of a salesperson. To examine this belief she records last month’s sales (in $1,000s) and the years of experience of 10 randomly selected salespeople. These data are listed below. Salesperson Years of Experience Sales ($1,000s) 1 0 7 2 2 9 3 10 20 4 3 15 5 8 18 6 5 14 7 12 20 8...
PLEASE SHOW ALL THE WORK X Y a. Find the regression equation. b. Interpret the meaning...
PLEASE SHOW ALL THE WORK
X Y a. Find the regression equation. b. Interpret the meaning of the Y intercept bo c. Interpret the meaning of the slope bi. d. Predict the average value of Y for X = 6 12 9 7 4 13 5 5 3
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...
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....
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 shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures y = 35+12r16x2 where =inventory investment ($1000s) 1 x2 = advertising expenditures ($1000s) sales ($1000s) a. Predict the sales resulting from a $15,000 investment in inventory and an advertising budget of $10,000. $ b. Interpret bi and b2 in this estimated regression equation. bi Sales can be expected to-Select your answer by $12 for every dollar increase in Select your answer is held...
Will rate, thank you in advance.
Reported magazine newsstand sales were used to predict audited sales for 10 magazines. For that data, SSR = 132,184.22 and SST = 144,410.99. Complete parts (a) through (c). a. Determine the coefficient of determination, r?, and interpret its meaning. 2 (Round to four decimal places as needed.) Interpret the meaning of r2. It means that % of the variation in audited newsstand sales (Round to two decimal places as needed.) be explained by the...
PLEASE SHOW ALL THE WORK
X Y a. Find the regression equation. b. Interpret the meaning of the Y intercept bo c. Interpret the meaning of the slope bi. d. Predict the average value of Y for X = 6 12 9 7 4 13 5 5 3
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