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) Compute SST, SSR, and SSE. SST=SSR=SSE= (b) Compute the coefficient of determination r2. (Round your answer to three decimal places.) r2 = Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.) 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.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. 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 did not provide 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.)

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section: Chapter Questions

Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...

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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)

Compute SST, SSR, and SSE.

SST=SSR=SSE=

(b)

Compute the coefficient of determination

r².

(Round your answer to three decimal places.)

r²

Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.)

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.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. 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 did not provide 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.)

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