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In: Statistics and Probability

At a local department store, let X be an independent variable for the number of salespeople...

At a local department store, let X be an independent variable for the number of salespeople on the floor and y the dependent variable for daily sales in thousands of dollars. The next screen will present the data.

X={5, 6, 7, 8, 9, 10} Y = {7, 8, 9, 12, 15, 20}

1. Write down the prediction equation.

2. Write down SSE, S2, SSyy and S(std. dev).

3. Predict the retail sales when there are 10 salespeople on the floor and then calculate the prediction error.

4. Construct a 95% confidence interval for b1.

5. Test if the number of salespeople on the floor is significant to the prediction of y.

6. Find the coefficient determination and interpret.

7. Find the 95% confidence interval for E(Y) when x = 10 salespeople.

8. Find a 95% prediction interval for Y when x = 10 salespeople.

9. Predict Y if x = 4 salespeople and find the confidence interval for E(y) and the prediction interval for Y. Is there a residual? If not, why not? If yes then what is it?

Expert Solution

Excel work includes 4)confidence interval for b1.

It's regression problem with Calculation of confidence interval.plz?☺️

orchestra answered 1 year ago

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At a local department store, let X be an independent variable for the number of salespeople...

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