A departmental store has the following sales for a period of last one year of 8 salesmen, who have different years of education. Years of Education 8 10 10 12 14 16 7 Annual Sales (Thousand Tk.) 100 120 80 100 80 100 70 130 a. Determine the correlation coefficient r between the two variables. Answer rounded to at least 4 decimal places. b. Determine the slope coefficient B1 for the regression of annual sales on years of education. Answer rounded to at least 4 decimal places. c. Determine the y-intercept Bo for the regression of annual sales on years of education. Answer rounded to at least 4 decimal places. d. What will be the annual sales when the years of education is 11 (years)? Answer rounded to at least 4 decimal places. Thousand Tk.
A departmental store has the following sales for a period of last one year of 8 salesmen, who have different years of education. Years of Education 8 10 10 12 14 16 7 Annual Sales (Thousand Tk.) 100 120 80 100 80 100 70 130 a. Determine the correlation coefficient r between the two variables. Answer rounded to at least 4 decimal places. b. Determine the slope coefficient B1 for the regression of annual sales on years of education. Answer rounded to at least 4 decimal places. c. Determine the y-intercept Bo for the regression of annual sales on years of education. Answer rounded to at least 4 decimal places. d. What will be the annual sales when the years of education is 11 (years)? Answer rounded to at least 4 decimal places. Thousand Tk.
Chapter4: Linear Functions
Section: Chapter Questions
Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...
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Transcribed Image Text:A departmental store has the following sales for a period of last one year of 8 salesmen, who have different years of education.
Years of Education
8
10
10
12
14
16
Annual Sales (Thousand Tk.)
100
120
80
100
80
100
70
130
a. Determine the correlation coefficient r between the two variables.
Answer rounded to at least 4 decimal places.
b. Determine the slope coefficient B1 for the regression of annual sales on years of education.
Answer rounded to at least 4 decimal places.
c. Determine the y-intercept Bo for the regression of annual sales on years of education.
Answer rounded to at least 4 decimal places.
d. What will be the annual sales when the years of education is 11 (years)?
Answer rounded to at least 4 decimal places.
Thousand Tk.
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