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.

milcah answered 1 year ago
Next > < Previous

Related Solutions

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 Analyze this data (what is correlation coefficient, slope for regression equation, y intercept for regression equation, standard error of estimate).
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 ________. Group of answer choices a (-1.842, 3.158) b...
The following table shows the number of cars sold last month by six dealers at Centreville...
The following table shows the number of cars sold last month by six dealers at Centreville Nissan dealership and their number of years of sales experience. Years of Experience Sales 1 7 2 9 2 9 4 8 5 14 8 14 A: Management would like to use simple regression analysis to estimate monthly car sales using the number of years of sales experience. Estimate and interpret the following: a) Regression Equation, b) Slope, c) y-intercept. B: what happens when...
Following table shows the monthly sales of cars at a dealership: Month Number of cars Sold...
Following table shows the monthly sales of cars at a dealership: Month Number of cars Sold 1 79 2 79 3 86 4 93 5 101 6 107 7 102 8 What is the Trend equation for the above data? What is the expected sales for the 8th month based on the Trend method? How much error is there in this forecasting method using MAD?
The table below shows the number of cars (in millions) sold in the United States for...
The table below shows the number of cars (in millions) sold in the United States for various years and the percent of those cars manufactured by GM. Year Cars Sold (millions) Percent GM Year Cars Sold (millions) Percent GM 1950 6.0 50.2 1985 15.4 40.1 1955 7.8 50.4 1990 13.5 36.0 1960 7.3 44.0 1995 15.5 31.7 1965 10.3 49.9 2000 17.4 28.6 1970 10.1 39.5 2005 16.9 26.9 1975 10.8 43.1 2010 11.6 19.1 1980 11.5 44.0 2015 17.5...
The table below shows the number of hybrid cars sold (in thousands) in the US in...
The table below shows the number of hybrid cars sold (in thousands) in the US in the following years.                                                          * Source: Wikipedia Year Hybrid cars sold in US (in thousands) 2000 9.35 2002 36.04 2004 84.20 2007 352.27 2010 274.21 2014 452.15 Find an exponential regression equation for the data. Let x = 0 represent the year 2000. Round a to two decimal places, and round b to four decimal places. Describe what a and b tell you from your...
The table below shows the number of cars (in millions) sold in the United States for...
The table below shows the number of cars (in millions) sold in the United States for various years and the percent of those cars manufactured by GM. Year Cars Sold (millions) Percent GM Year Cars Sold (millions) Percent GM 1950 6.0 50.2 1985 15.4 40.1 1955 7.8 50.4 1990 13.5 36.0 1960 7.3 44.0 1995 15.5 31.7 1965 10.3 49.9 2000 17.4 28.6 1970 10.1 39.5 2005 16.9 26.9 1975 10.8 43.1 2010 11.6 19.1 1980 11.5 44.0 2015 17.5...
The data table below shows the number of computers sold at the Bronco Store in a...
The data table below shows the number of computers sold at the Bronco Store in a week, based on online advertising. Online Ads              Computers Sold 2                             25       1                             10 4                             30 1                             10 Sx = 10 2                             25 Sy = 100 a. Calculate the means for both Ads and Computers Sold. b. Calculate the slope for the estimated regression equation. The (x-x)(y-y) = 40, just need to calculate denominator.    c. Calculate the y-intercept for the estimated regression equation.   ...
The frequency table below records the number of used cars sold (by price ranges) by one...
The frequency table below records the number of used cars sold (by price ranges) by one dealer back in 2019. Price of car sold Frequencies 0-4,999 11 5,000-9,999 28 10,000-14,999 23 15,000-19,999 8 20,000-24,999 5 Use your calculator to compute estimates for the following descriptive statistics for this sample of car prices sold by this dealer in 2019. Round answers on (a) to (e) to the nearest whole number with dimensional units included. (a) Mean price: (b) Median price: (c)...
Table 1 below shows the number of lawn mowers sold by Mangi Enterprises over a period...
Table 1 below shows the number of lawn mowers sold by Mangi Enterprises over a period of three years. Table 1: Sales Data of Lawn Mowers Jan Feb March April May June July Aug Sept Oct Nov Dec 20016 238 220 195 245 345 380 270 220 280 120 110 85 2017 135 145 185 219 240 420 520 410 380 320 290 240 2018 205 230 340 370 395 505 540 500 402 360 310 280 REQUIRED: Based on...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT