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A firm that operates a large sales force would like to build a system to monitor the progress of new agents. A key task for agents is to open new accounts. To build the system, the firm has monitored activities of new agents over the past two years. The response of interest is the profit to the firm (in dollars) of contracts sold by agents over their first year. Among the possible explanations of this performance is the number of new accounts developed by the agent during the first three months of work. Formulate the Simple Regression Model with Y given by the natural log of profit from sales and X given by the natural log of number of accounts, and complete parts (a) through (d). Click the icon to view the data table. (a) Locate the most negative residual in the data. Which case is this? The value of the most negative residual is ☐ (Round to three decimal places as needed.) Sales Data. Log of Log of Profit from Number of Early Sales Accounts Commission Early Selling 9.7808 3.0955 10.2109 2.8828 99.95 2,676.37 12,889 160,407 10.0354 2.1905 9.7371 5.5582 425.72 608,373 2,832.48 3,190,564 10.4182 3.6167 10,622.69 451,832 9.6926 1.7997 85.08 3,142,881 9.3554 2.9892 1,359.14 268,093 9.9487 3.2436 3,147.24 103,921 9.9955 2.3893 2,074.70 62,040 10.4846 2.9912 180.06 725,096 10.1438 2.5572 3,768.89 3,274,982 10.1789 3.7671 2,122.26 789,967 10.8189 5.2135 3,775.92 9,329,146 9.8751 3.1047 794.48 20,874 10.5072 3.1739 2,206.84 333,584 10.2228 3.4937 273.41 695,028 10.3918 3.6229 2,378.56 487,804 10.2593 2.4803 680.89 424,081 10.7065 2.3105 437.61 63,772 10.6821 4.9854 4,499.94 2,839,315 4.0013 1.0144 0.00 0 7.3106 3.2044 287.51 81,133 8.7216 3.2971 175.68 23,362 8.9463 3.8416 315.04 567,924 8.4469 2.6311 12.55 75,379 9.2188 2.4787 0.00 271,146 9.3988 1.7908 99.60 1.914

A firm that operates a large sales force would like to build a system to monitor the progress of new agents. A key task for agents is to open new accounts. To build the system, the firm has monitored activities of new agents over the past two years. The response of interest is the profit to the firm (in dollars) of contracts sold by agents over their first year. Among the possible explanations of this performance is the number of new accounts developed by the agent during the first three months of work. Formulate the Simple Regression Model with Y given by the natural log of profit from sales and X given by the natural log of number of accounts, and complete parts (a) through (d). Click the icon to view the data table. (a) Locate the most negative residual in the data. Which case is this? The value of the most negative residual is ☐ (Round to three decimal places as needed.) Sales Data. Log of Log of Profit from Number of Early Sales Accounts Commission Early Selling 9.7808 3.0955 10.2109 2.8828 99.95 2,676.37 12,889 160,407 10.0354 2.1905 9.7371 5.5582 425.72 608,373 2,832.48 3,190,564 10.4182 3.6167 10,622.69 451,832 9.6926 1.7997 85.08 3,142,881 9.3554 2.9892 1,359.14 268,093 9.9487 3.2436 3,147.24 103,921 9.9955 2.3893 2,074.70 62,040 10.4846 2.9912 180.06 725,096 10.1438 2.5572 3,768.89 3,274,982 10.1789 3.7671 2,122.26 789,967 10.8189 5.2135 3,775.92 9,329,146 9.8751 3.1047 794.48 20,874 10.5072 3.1739 2,206.84 333,584 10.2228 3.4937 273.41 695,028 10.3918 3.6229 2,378.56 487,804 10.2593 2.4803 680.89 424,081 10.7065 2.3105 437.61 63,772 10.6821 4.9854 4,499.94 2,839,315 4.0013 1.0144 0.00 0 7.3106 3.2044 287.51 81,133 8.7216 3.2971 175.68 23,362 8.9463 3.8416 315.04 567,924 8.4469 2.6311 12.55 75,379 9.2188 2.4787 0.00 271,146 9.3988 1.7908 99.60 1.914

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 28EQ
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A firm that operates a large sales force would like to build a system to monitor the progress of new agents. A key task for agents is to open new accounts. To build the system, the firm has monitored activities of new agents over the past two years. The response of interest is the profit to the firm (in dollars) of contracts sold by agents over their first year. Among the possible explanations of this performance is the number of new accounts developed by the agent during the first three months of work. Formulate the Simple Regression Model with Y given by the natural log of profit from sales and X given by the natural log of number of accounts, and complete parts (a) through (d). Click the icon to view the data table. (a) Locate the most negative residual in the data. Which case is this? The value of the most negative residual is ☐ (Round to three decimal places as needed.) Sales Data. Log of Log of Profit from Number of Early Sales Accounts Commission Early Selling 9.7808 3.0955 10.2109 2.8828 99.95 2,676.37 12,889 160,407 10.0354 2.1905 9.7371 5.5582 425.72 608,373 2,832.48 3,190,564 10.4182 3.6167 10,622.69 451,832 9.6926 1.7997 85.08 3,142,881 9.3554 2.9892 1,359.14 268,093 9.9487 3.2436 3,147.24 103,921 9.9955 2.3893 2,074.70 62,040 10.4846 2.9912 180.06 725,096 10.1438 2.5572 3,768.89 3,274,982 10.1789 3.7671 2,122.26 789,967 10.8189 5.2135 3,775.92 9,329,146 9.8751 3.1047 794.48 20,874 10.5072 3.1739 2,206.84 333,584 10.2228 3.4937 273.41 695,028 10.3918 3.6229 2,378.56 487,804 10.2593 2.4803 680.89 424,081 10.7065 2.3105 437.61 63,772 10.6821 4.9854 4,499.94 2,839,315 4.0013 1.0144 0.00 0 7.3106 3.2044 287.51 81,133 8.7216 3.2971 175.68 23,362 8.9463 3.8416 315.04 567,924 8.4469 2.6311 12.55 75,379 9.2188 2.4787 0.00 271,146 9.3988 1.7908 99.60 1.914
Transcribed Image Text:A firm that operates a large sales force would like to build a system to monitor the progress of new agents. A key task for agents is to open new accounts. To build the system, the firm has monitored activities of new agents over the past two years. The response of interest is the profit to the firm (in dollars) of contracts sold by agents over their first year. Among the possible explanations of this performance is the number of new accounts developed by the agent during the first three months of work. Formulate the Simple Regression Model with Y given by the natural log of profit from sales and X given by the natural log of number of accounts, and complete parts (a) through (d). Click the icon to view the data table. (a) Locate the most negative residual in the data. Which case is this? The value of the most negative residual is ☐ (Round to three decimal places as needed.) Sales Data. Log of Log of Profit from Number of Early Sales Accounts Commission Early Selling 9.7808 3.0955 10.2109 2.8828 99.95 2,676.37 12,889 160,407 10.0354 2.1905 9.7371 5.5582 425.72 608,373 2,832.48 3,190,564 10.4182 3.6167 10,622.69 451,832 9.6926 1.7997 85.08 3,142,881 9.3554 2.9892 1,359.14 268,093 9.9487 3.2436 3,147.24 103,921 9.9955 2.3893 2,074.70 62,040 10.4846 2.9912 180.06 725,096 10.1438 2.5572 3,768.89 3,274,982 10.1789 3.7671 2,122.26 789,967 10.8189 5.2135 3,775.92 9,329,146 9.8751 3.1047 794.48 20,874 10.5072 3.1739 2,206.84 333,584 10.2228 3.4937 273.41 695,028 10.3918 3.6229 2,378.56 487,804 10.2593 2.4803 680.89 424,081 10.7065 2.3105 437.61 63,772 10.6821 4.9854 4,499.94 2,839,315 4.0013 1.0144 0.00 0 7.3106 3.2044 287.51 81,133 8.7216 3.2971 175.68 23,362 8.9463 3.8416 315.04 567,924 8.4469 2.6311 12.55 75,379 9.2188 2.4787 0.00 271,146 9.3988 1.7908 99.60 1.914
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