EBK MODERN BUSINESS STATISTICS WITH MIC
5th Edition
ISBN: 9780100475038
Author: williams
Publisher: YUZU
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Chapter 14.6, Problem 36E
In exercise 7, the data on y = annual sales ($ 1000s) for new customer accounts and x = number of years of experience for a sample of 10 salespersons provided the estimated regression equation ŷ = 80 + 4x. For these data
- a. Develop a 95% confidence interval for the
mean annual sales for all salespersons with nine years of experience. - b. The company is considering hiring Tom Smart, a salesperson with nine years of experience. Develop a 95% prediction interval of annual sales for Tom Smart.
- c. Discuss the differences in your answers to parts (a) and (b).
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The data on y = annual sales ($1,000s) for new customer accounts and x = number of years of experience for a sample of 10 salespersons provided the estimated regression equation
ŷ = 80 + 4x. For these data, x = 7, Σ(xi − x)2 = 142, and s = 4.6098.
(a)Develop a 95% confidence interval for the mean annual sales (in thousands of dollars) for all salespersons with seven years of experience. (Round your answers to two decimal places.)
$______ thousand to $_____thousand
(b)The company is considering hiring Tom Smart, a salesperson with seven years of experience. Develop a 95% prediction interval of annual sales (in thousands of dollars) for Tom Smart. (Round your answers to two decimal places.)
$_______ thousand to $_______ thousand
The data on y = annual sales ($1,000s) for new customer accounts and x = number of years of experience for a sample of 10 salespersons provided the estimated regression equation
ŷ = 80 + 4x.
For these data,
x = 7,
Σ(xi − x)2 = 142,
and
s = 4.6098.
(a)
Develop a 95% confidence interval for the mean annual sales (in thousands of dollars) for all salespersons with twelve years of experience. (Round your answers to two decimal places.)
$ thousand to $ thousand
(b)
The company is considering hiring Tom Smart, a salesperson with twelve years of experience. Develop a 95% prediction interval of annual sales (in thousands of dollars) for Tom Smart. (Round your answers to two decimal places.)
$ thousand to $ thousand
Chapter 14 Solutions
EBK MODERN BUSINESS STATISTICS WITH MIC
Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations collected in a...Ch. 14.2 - Retail and Trade: Female Managers. The following...Ch. 14.2 - Production Line Speed and Quality Control. Brawdy...Ch. 14.2 - The National Football League (NFL) records a...Ch. 14.2 - Sales Experience and Performance. A sales manager...Ch. 14.2 - Broker Satisfaction. The American Association of...Ch. 14.2 - Companies in the U.S. car rental market vary...Ch. 14.2 - Prob. 10E
Ch. 14.2 - Laptop Ratings. To help consumers in purchasing a...Ch. 14.2 - Prob. 12ECh. 14.2 - Distance and Absenteeism. A large city hospital...Ch. 14.2 - Using a global-positioning-system (GPS)-based...Ch. 14.3 - 15. The data from exercise 1...Ch. 14.3 - The data from exercise 2 follow.
The estimated...Ch. 14.3 - Prob. 17ECh. 14.3 - Price and Quality of Headphones. The following...Ch. 14.3 - Sales Experience and Sales Performance. In...Ch. 14.3 - Price and Weight of Bicycles. Bicycling, the...Ch. 14.3 - Cost Estimation. An important application of...Ch. 14.3 - 22. Refer to exercise 9, where the following data...Ch. 14.5 - The data from exercise 1 follow.
Compute the mean...Ch. 14.5 - The data from exercise 2 follow.
Compute the mean...Ch. 14.5 - The data from exercise 3 follow.
What is the...Ch. 14.5 - Prob. 26ECh. 14.5 - Prob. 27ECh. 14.5 - Broker Satisfaction Conclusion. In exercise 8,...Ch. 14.5 - Cost Estimation Conclusion. Refer to exercise 21,...Ch. 14.5 - Significance of Fleet Size on Rental Car Revenue....Ch. 14.5 - Significance of Racing Bike Weight on Price. In...Ch. 14.6 - 32. The data from exercise 1...Ch. 14.6 - 33. The data from exercise 2...Ch. 14.6 - Prob. 34ECh. 14.6 - 35. The following data are the monthly salaries y...Ch. 14.6 - 36. In exercise 7, the data on y = annual sales ($...Ch. 14.6 - In exercise 5, the following data on x = the...Ch. 14.6 - Prob. 38ECh. 14.6 - 39. In exercise 12, the following data on x =...Ch. 14.7 - The commercial division of a real estate firm...Ch. 14.7 - Following is a portion of the regression output...Ch. 14.7 - Out-of-state tuition and fees at the top graduate...Ch. 14.7 - Auto Racing Helmet. Automobile racing,...Ch. 14.8 - Prob. 45ECh. 14.8 - Prob. 46ECh. 14.8 - Prob. 47ECh. 14.8 - Prob. 48ECh. 14.8 - Prob. 49ECh. 14.9 - Consider the following data for two variables, x...Ch. 14.9 - Prob. 51ECh. 14.9 - Predicting Charity Expenses. Charity Navigator is...Ch. 14.9 - Many countries, especially those in Europe, have...Ch. 14.9 - Prob. 54ECh. 14 - The Dow Jones Industrial Average (DJIA) and the...Ch. 14 - Prob. 56SECh. 14 - Prob. 57SECh. 14 - Machine Maintenance. Jensen Tire & Auto is in the...Ch. 14 - Bus Maintenance. The regional transit authority...Ch. 14 - Reuters reported the market beta for Xerox was...Ch. 14 - Used Car Mileage and Price. The Toyota Camry is...Ch. 14 - Prob. 62SECh. 14 - One measure of the risk or volatility of an...Ch. 14 - As part of a study on transportation safety, the...Ch. 14 - Consumer Reports tested 166 different...Ch. 14 - When trying to decide what car to buy, real value...
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