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A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. O Years of Experience Annual Sales ($1000s) Salesperson 1 1 80 2 3 4 5 76 6 90 7 96 8 105 9 10 100 10 10 95 The data on y = annual sales ($1000s) for new customer accounts and = number of years of experience for a sample of 10 salespersons provided the estimated regression equation = 73.66 +2.43x. For these data = 5.9, (-)² = 104.90, and s = 6.8202. a. Develop the 90% confidence interval for the mean annual sales ($1000s) for all salespersons with two years of experience. ($ *) (to 2 decimals) b. The company is considering hiring Tom Smart, a salesperson with two years of experience. Develop a 90% prediction interval of annual sales ($1000s) for Tom Smart. ) (to 2 decimals) A ($ c. Discuss the differences in your answers to parts (a) and (b). M to predict annual than the confidence interval. This is due to the fact that it is more difficult As expected, the prediction interval is much wider sales for one new salesperson with 2 years of experience than it is to estimate the mean annual sales for all salespersons with 2 years of experience. 1 3 5 6 6 8 9 80 Hint(s) Спеск му 81 77

A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. O Years of Experience Annual Sales ($1000s) Salesperson 1 1 80 2 3 4 5 76 6 90 7 96 8 105 9 10 100 10 10 95 The data on y = annual sales ($1000s) for new customer accounts and = number of years of experience for a sample of 10 salespersons provided the estimated regression equation = 73.66 +2.43x. For these data = 5.9, (-)² = 104.90, and s = 6.8202. a. Develop the 90% confidence interval for the mean annual sales ($1000s) for all salespersons with two years of experience. ($ *) (to 2 decimals) b. The company is considering hiring Tom Smart, a salesperson with two years of experience. Develop a 90% prediction interval of annual sales ($1000s) for Tom Smart. ) (to 2 decimals) A ($ c. Discuss the differences in your answers to parts (a) and (b). M to predict annual than the confidence interval. This is due to the fact that it is more difficult As expected, the prediction interval is much wider sales for one new salesperson with 2 years of experience than it is to estimate the mean annual sales for all salespersons with 2 years of experience. 1 3 5 6 6 8 9 80 Hint(s) Спеск му 81 77

MATLAB: An Introduction with Applications
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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A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. O Years of Experience Annual Sales ($1000s) Salesperson 1 1 80 2 3 4 76 90 96 8 105 9 10 100 10 10 95 The data on y = annual sales ($1000s) for new customer accounts and = number of years of experience for a sample of 10 salespersons provided the estimated regression equation = 73.66 +2.43x. For these data = 5.9, (-)² = 104.90, and s = 6.8202. ŷ a. Develop the 90% confidence interval for the mean annual sales ($1000s) for all salespersons with two years of experience. ($ (to 2 decimals) b. The company is considering hiring Tom Smart, a salesperson with two years of experience. Develop a 90% prediction interval of annual sales ($1000s) for Tom Smart. ) (to 2 decimals) ($ A c. Discuss the differences in your answers to parts (a) and (b). to predict annual than the confidence interval. This is due to the fact that it is more difficult As expected, the prediction interval is much wider sales for one new salesperson with 2 years of experience than it is to estimate the mean annual sales for all salespersons with 2 years of experience. Hide Feedback DII F10 80 888 F7 FA F2 2 144 # 3 F F3 $ 4 R % 5 T 5 6 7 6 Y & 1 3 7 5 6 6 8 9 U 8 80 81 77 FR 1 ( 9 O O Hint(s) checк му P s C
Transcribed Image Text:A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. O Years of Experience Annual Sales ($1000s) Salesperson 1 1 80 2 3 4 76 90 96 8 105 9 10 100 10 10 95 The data on y = annual sales ($1000s) for new customer accounts and = number of years of experience for a sample of 10 salespersons provided the estimated regression equation = 73.66 +2.43x. For these data = 5.9, (-)² = 104.90, and s = 6.8202. ŷ a. Develop the 90% confidence interval for the mean annual sales ($1000s) for all salespersons with two years of experience. ($ (to 2 decimals) b. The company is considering hiring Tom Smart, a salesperson with two years of experience. Develop a 90% prediction interval of annual sales ($1000s) for Tom Smart. ) (to 2 decimals) ($ A c. Discuss the differences in your answers to parts (a) and (b). to predict annual than the confidence interval. This is due to the fact that it is more difficult As expected, the prediction interval is much wider sales for one new salesperson with 2 years of experience than it is to estimate the mean annual sales for all salespersons with 2 years of experience. Hide Feedback DII F10 80 888 F7 FA F2 2 144 # 3 F F3 $ 4 R % 5 T 5 6 7 6 Y & 1 3 7 5 6 6 8 9 U 8 80 81 77 FR 1 ( 9 O O Hint(s) checк му P s C
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