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 = 81 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 97 4 4 102 5 6 103 6 8 111 7 10 119 8 10 128 9 11
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 = 81 + 4x. Salesperson Years of Experience Annual Sales ($1,000s) 1 1 80 2 3 97 3 4 97 4 4 102 5 6 103 6 8 111 7 10 119 8 10 128 9 11
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...
Related questions
Question
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 = 81 + 4x.
Salesperson | Years of Experience |
Annual Sales ($1,000s) |
---|---|---|
1 | 1 | 80 |
2 | 3 | 97 |
3 | 4 | 97 |
4 | 4 | 102 |
5 | 6 | 103 |
6 | 8 | 111 |
7 | 10 | 119 |
8 | 10 | 128 |
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 did not provide 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.
(c)
What is the value of the sample correlation coefficient ? (Round your answer to three decimal places.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage