A sales manager for an advertising agency believes there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. A regression ANOVA shows the following results: ANOVA df SS MS F Significance F Regression 1.00 13,555.42 13,555.42 156.38 0.00 Residual 8.00 693.48 86.88 Total 9.00 14,248.90 What is the value of the standard error of estimate?
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A sales manager for an advertising agency believes there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. A regression ANOVA shows the following results:
ANOVA
df | SS | MS | F | Significance F | |
---|---|---|---|---|---|
Regression | 1.00 | 13,555.42 | 13,555.42 | 156.38 | 0.00 |
Residual | 8.00 | 693.48 | 86.88 | ||
Total | 9.00 | 14,248.90 |
What is the value of the standard error of estimate?
-
9.321
-
8.789
-
8.339
-
86.88
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- A car dealership would like to develop a regression model that would predict the number of cars sold per month by a dealership employee based on theemployee's number of years of sales experience. The accompanying regression output was developed based on a random sample of employees. ANOVA df SS Regression 1 79.909407 Residual 23 261.210593 Total 24 341.12 Coefficients Standard Error Intercept 7.271539 1.229763 Slope 0.539854 1. Predict the sales next month for an employee with 2.5 years of experience. The predicted sales is 8.6 cars. 2. Compute the coefficient of determination and interpret its meaning. The coefficient of determination is 0.234. 3. Do the sample data provide evidence that the model is useful for predicting average monthly sales for employees based on their sales experience using α=0.05? The test statistic is (Type an integer or decimal rounded to two decimal places as…A car dealership would like to develop a regression model that would predict the number of cars sold per month by a dealership employee based on the employee's number of years of sales experience. The accompanying regression output was developed based on a random sample of employees. ANOVA df SS Regression 1 79.909407 Residual 23 261.210593 Total 24 341.12 Coefficients Standard Error Intercept 7.271539 1.229763 Slope 0.539854 Predict the sales next month for an employee with 2.5 years of experience. The predicted sales is _________ cars. (Type an integer or decimal rounded to one decimal place as needed.)consider the partially completed ANOVA table showing the results of a regression analysis shown;
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