DATAfile: SalesA sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ŷ = 80 + 4x.SalespersonYears ofExperienceAnnual Sales($1,000s)1180239734924410256103681117101198101239111171013136 (a) Compute SST, SSR, and SSE.SST =SSR =SSE =(b) Compute the coefficient of determination r2. (Round your answer to three decimal places.)p2 =Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.)O The least squares line did not provide a good fit as a small proportion of the variability in y has been explained by the least squares line.O The least squares line did not provide a good fit as a large proportion of the variability in y has been explained by the least squares line.The least squares line provided a good fit as a large proportion of the variability in y has been explained by the least squares line.O The least squares line provided a good fit as a small proportion of the variability in y has been explained by the least squares line.(c) What is the value of the sample correlation coefficient? (Round your answer to three decimal places.)

a) Excel Procedure: Enter X and Y data in Excel>Go to Data>Click on Data Analysis……..>…

A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ŷ = 80 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136

A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is ŷ = 80 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

See similar textbooks

Salesperson	Years of Experience	Annual Sales ($1,000s)
1	1	80
2	3	97
3	4	92
4	4	102
5	6	103
6	8	111
7	10	119
8	10	123
9	11	117
10	13	136

Similar questions

1. What does it imply if if more values are concentrated above the mean? (Skewness) And would the value of skewness be less than, greater than, or equal to 0? 2. In case the data is highly skewed, can we still rely on the kurtosis coefficient? Why or why not? 3. Can the z-score be a real measure of dispersion?
1) A regression model between sales (y in $1000), unit price (x1 in dollars), and television advertisement (x2 in dollars) resulted in the following function: = 7 - 3x1 + 5x2 For this model, SSR = 3500, SSE = 1500, and the sample size is 18. To test for the significance of the model, the p-value is A) between .025 and .05. B) greater than .10. C) less than .01. D) between .01 and .025.
The distribution of z-scores corresponding with a population of scores always has a variance of _____. a. σ2 = 2. b. σ2 = 0. c. σ2 = 1. d. This cannot be determined based on the information provided.
a) Find Beta1_hat from the above information.b) Find Beta0_hat from the above information.c) Find the standard error of the residual from the above information.d) Find the R-squared of the mode e) Which of the following parameters are statistically significant?beta0_hatbeta1_hatAll of the aboveNone of the above
A snack food manufacturer estimates that the variance of the number of grams of carbohydrates in servings of its tortilla chips is 1.33. A dietician is asked to test this claim and finds that a random sample of 24 servings has a variance of 1.37. At α=0.01, is there enough evidence to reject the manufacturer's claim? Assume the population is normally distributed. Complete parts (a) through (e) below. (a) Write the claim mathematically and identify H0 and Ha. A. H0: σ2≤1.33 (Claim) Ha: σ2>1.33 B. H0: σ2≠1.33 Ha: σ2=1.33 (Claim) C. H0: σ2≥1.33 Ha: σ2<1.33 (Claim) D. H0: σ2=1.33 (Claim) Ha: σ2≠1.33 (b) Find the critical value(s) and identify the rejection region(s). The critical value(s) is(are) enter your response here. (Round to two decimal places as needed. Use a comma to separate answers as needed.) Choose the correct statement below and fill in the corresponding answer boxes. A. The…
In a test of H0: µ=150 against HA: µ<150, a sample of size 250 produces Z = -0.65 for the value of the test statistic. Thus the p-value is approximately equal to
The data indicates that women in the tech industry (M = 7.26) rated intelligence as a more desirable trait in comparison to the general population, t(121) = 4.00, p < .05. Compute r2 (proportion of variance accounted for) What is the sample size? What is the calculated t value? What is the critical t value? What alpha was used for testing?
A sociologist is interested in the relation between x = number of job changes and y = annual salary (in thousands of dollars) for people living in the Nashville area. A random sample of 10 people employed in Nashville provided the following information. x (number of job changes) 5 3 6 6 1 5 9 10 10 3 y (Salary in $1000) 36 37 34 32 32 38 43 37 40 33 (d) If someone had x = 2 job changes, what does the least-squares line predict for y, the annual salary? (Round your answer to two decimal places.)thousand dollars thousand dollars
A horticulture student is interested on the antifungal properties of three plant species. Leaf extracts from each species were mixed with agar based growth medium and poured into 5 Petri dishes. The Petri dishes were streaked with fungi isolates and the area in sq mm of fungal growth was measured after seven days. Assuming the areas of growth are not normally distributed, which is the most appropriate analysis for the experiment to find difference? A. Kruskal Wallis B. Friedman C. t-test D. sign test
2. Use the given information about sums of squares and sample size for a linear model to fill in all values in the analysis of variance for regression table below.S⁢S⁢M⁢o⁢d⁢e⁢l⁢=800 with S⁢S⁢T⁢o⁢t⁢a⁢l⁢=5820 and a sample size of n=40.Round your answer for the p-value to four decimal places, and all other answers to two decimal places, if necessary. Source df SS MS F-statistic p-value Model Error Total
A suitable null hypothesis worth evaluating in regression is the following: a) all population means are unequal b) all population means are equal c) the sample data was not drawn from the population d) the population regression slope is equal to 0