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. Salesperson Years ofExperience Annual Sales($1,000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136 (a) Develop a scatter diagram for these data with years of experience as the independent variable. (b) Develop an estimated regression equation that can be used to predict annual sales (in $1,000s) given the years of experience. ŷ = (c) Use the estimated regression equation to predict annual sales (in $1,000s) for a salesperson with 9 years of experience. $ thousand
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. Salesperson Years ofExperience Annual Sales($1,000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136 (a) Develop a scatter diagram for these data with years of experience as the independent variable. (b) Develop an estimated regression equation that can be used to predict annual sales (in $1,000s) given the years of experience. ŷ = (c) Use the estimated regression equation to predict annual sales (in $1,000s) for a salesperson with 9 years of experience. $ thousand
A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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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.
| Salesperson | Years of Experience |
Annual Sales ($1,000s) |
|---|---|---|
| 1 | 1 | 80 |
| 2 | 3 | 97 |
| 3 | 4 | 92 |
| 4 | 4 | 102 |
| 5 | 6 | 103 |
| 6 | 8 | 111 |
| 7 | 10 | 119 |
| 8 | 10 | 123 |
| 9 | 11 | 117 |
| 10 | 13 | 136 |
(a)
Develop a scatter diagram for these data with years of experience as the independent variable.
(b)
Develop an estimated regression equation that can be used to predict annual sales (in $1,000s) given the years of experience.
ŷ =
(c)
Use the estimated regression equation to predict annual sales (in $1,000s) for a salesperson with 9 years of experience.
$ thousand
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