YearsSales18039749241026103811110119101231111713136 36. In exercise 7, the data on y = annual sales ($1000s) for new customer accounts andDATA filea = number of years of experience for a sample of 10 salespersons provided theestimated regression equation î = 80 + 4x. For these data = 7, E(x; – 7)² = 142, andSales-s = 4.6098.a. Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years ofexperience.Answer +b. The company is considering hiring Tom Smart, a salesperson with nine years of experience. Develop a95% prediction interval of annual sales for Tom Smart.Answer +c. Discuss the differences in your answers to parts (a) and (b).

Answered: Image /qna-images/answer/95cf28f9-b634-44ed-b28d-126c2f605a60.jpgC. The parts a and b, we see that the 95% prediction interval of annual sales for tom smart is much wider than the 95% confidence interval for the mean annual sales. The difference might suggest that the predicting annual sales is more difficult than estimating the mean annual sales for all salespersons with 9 years of experience.

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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).

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).

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

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).

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