36. In exercise 7, the data on y = annual sales ($1000s) for new customer accounts and a = number of years of experience for a sample of 10 salespersons provided the estimated regression equation ŷ = 80 + 4r. For these data = 7, 2(x; - 7) = 142, and s = 4.6098. DATA file Sales a. Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years of experience. Answer + 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. Answer c. Discuss the differences in your answers to parts (a) and (b).

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Years Sales
1 80
3 97
4 92
4 102
6 103
8 111
10 119
10 123
11 117
13 136

 

36. In exercise 7, the data on y = annual sales ($1000s) for new customer accounts and
DATA file
a = number of years of experience for a sample of 10 salespersons provided the
estimated regression equation î = 80 + 4x. For these data = 7, E(x; – 7)² = 142, and
Sales
-
s = 4.6098.
a. Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years of
experience.
Answer +
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.
Answer +
c. Discuss the differences in your answers to parts (a) and (b).
Transcribed Image Text:36. In exercise 7, the data on y = annual sales ($1000s) for new customer accounts and DATA file a = number of years of experience for a sample of 10 salespersons provided the estimated regression equation î = 80 + 4x. For these data = 7, E(x; – 7)² = 142, and Sales - s = 4.6098. a. Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years of experience. Answer + 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. Answer + c. Discuss the differences in your answers to parts (a) and (b).
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