Consider the following data from a small bookstore: Salespeople Sales ($1000) 2 10 3 11 7...

Consider the following data from a small bookstore:

Salespeople	Sales ($1000)
2	10
3	11
7	13
9	14
10	18
10	20
12	20
15	22
16	22
20	26


Sample mean = 10.4	sample mean = 17.6
SD(x) = 5.64	SD(y) = 5.34

Prepare a scatterplot of Sales against Number of Sales People Working
What can you say about the direction of the association?
What can you say about the form of the relationship?
What can you say about the strength of the relationship?
Does the scatterplot show any outliers?
What is the correlation coefficient?
What is the slope term and what does it mean?
What is the prediction equation?
If 18 people are working, what Sales do you predict?
If sales are actually $25,000, what is the value of the residual? Have we overestimated or underestimated the sales?

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Expert Solution

orchestra answered 1 year ago

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