Question
In: Statistics and Probability
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 = 82 + 4x.
| Salesperson | Years of Experience |
Annual Sales ($1,000s) |
|---|---|---|
| 1 | 1 | 80 |
| 2 | 3 | 97 |
| 3 | 4 | 102 |
| 4 | 4 | 107 |
| 5 | 6 | 103 |
| 6 | 8 | 101 |
| 7 | 10 | 119 |
| 8 | 10 | 128 |
| 9 | 11 | 127 |
| 10 | 13 | 136 |
(a)
Compute SST, SSR, and SSE.
SST=SSR=SSE=
(b)
Compute the coefficient of determination
r2.
(Round your answer to three decimal places.)
r2
=
(c)
What is the value of the sample correlation coefficient? (Round your answer to three decimal places.)
Solutions
Expert Solution
The statistical software output for this problem is :
(a)
SST = 2642
SSR = 2272
SSE = 370
(b)
r square = 0.860
(c)
sample correlation coefficient = 0.927
orchestra answered 1 year agoRelated Solutions
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 = 83 + 4x.
Salesperson
Years of
Experience
Annual Sales
($1,000s)
1
1
80
2
3
97
3
4
102
4
4
107
5
6
103
6
8
116
7
10
119
8
10
123
9
11
127
10
13
136
(a)
Compute SST, SSR, and SSE.
SST=SSR=SSE=
(b)
Compute the coefficient...
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
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Salesperson
Years of
Experience
Annual Sales
($1000s)
1
1
80
2
3
76
3
4
72
4
6
77
5
8
92
6
8
109
7
9
126
8
9
122
9
10
124
10
11
120
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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 salespersons. Salesperson Years of Experience Annual
Sales ($1000s)
1 1 80
2 2 100
3 3 106
4 4 105
5 6 111
6 8 120
7 9 121
8 11 116
9 13 136
10 14 142
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[X]
[Y]
Rate of formation of a product
1
0.23
M
0.17
M
0.33
M/h
2
0.46
M
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0.23
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0.51
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12
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17
0
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claim that on average male CEOs have higher salaries than female
CEOs at the 0.050.05 level of significance? If yes, type the
regression equation in the spaces provided with answers rounded to
two decimal places. Else, select "There is not enough
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Copy Data
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A sales manager collected data on annual sales for new customer accounts and the number of...
A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Salesperson
Years of Experience
Annual Sales ($1000s)
1
3
79
2
4
92...
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