Question

In: Math

The table below shows the number of cars sold last month by seven employees at Concord...

The table below shows the number of cars sold last month by seven employees at Concord Motors and their number of years of sales experience.

Experience Sales
1 8
2 6
2 7
4 14
5 9
6 13
8 10

Management would like to use simple regression analysis to estimate monthly car sales using the number of years of sales experience. The 95% confidence interval for the regression slope is ________.

A. (-1.842, 3.158)

B. (-0.481, 1.797)

C. (0.058, 1.258)

D. (0.408, 0.908)

Solutions

Expert Solution

To calculate the 95% confidence interval for the regression slope is , we required the slope and standard error of slope . for this we use excel . the excel procedure is as follows :

Menu---->Excel-----> enter the data of the variable sales (y ) and variable experience ( x) ------->data------->data analysis------>regression------>ok------>Input Y range ( select the data of variale ( y ) )------->Input X range ( select the variable (x) )------>Output Range (select the blank box in excel ) -------->ok .

The excel gives the following output :  

The final answer is ,

The 95 % confidence interval for the regression slope is option B. ( -0.481 , 1.797 )

THIS IS THE FINAL ANSWER.


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