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. Years of Annual Sales Salesperson Experience ($1000) 1 2 82 2 3 84 3 4 94 4 6 101 5 7 102 6 9 105 7 10 108 8 11 114 9 13 123 10 15 125 a. Compute the residuals and choose a residual plot for this problem. y= __ + __ x (to 1 decimal) The correct plot of the residuals is (A, B, C, D) b. Do the assumptions about the error term seem reasonable in light of the residual plot? The assumptions concerning the error term (appear, do not appear) reasonable.
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. Years of Annual Sales Salesperson Experience ($1000) 1 2 82 2 3 84 3 4 94 4 6 101 5 7 102 6 9 105 7 10 108 8 11 114 9 13 123 10 15 125 a. Compute the residuals and choose a residual plot for this problem. y= __ + __ x (to 1 decimal) The correct plot of the residuals is (A, B, C, D) b. Do the assumptions about the error term seem reasonable in light of the residual plot? The assumptions concerning the error term (appear, do not appear) reasonable.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
100%
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.
| Years of | Annual Sales | |
| Salesperson | Experience | ($1000) |
| 1 | 2 | 82 |
| 2 | 3 | 84 |
| 3 | 4 | 94 |
| 4 | 6 | 101 |
| 5 | 7 | 102 |
| 6 | 9 | 105 |
| 7 | 10 | 108 |
| 8 | 11 | 114 |
| 9 | 13 | 123 |
| 10 | 15 | 125 |
a. Compute the residuals and choose a residual plot for this problem.
y= __ + __ x (to 1 decimal)
The correct plot of the residuals is (A, B, C, D)
b.
Do the assumptions about the error term seem reasonable in light of the residual plot?
The assumptions concerning the error term (appear, do not appear) reasonable.
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.
Years of
Annual Sales
Salesperson Experience
($1000)
1
2
82
2
3
84
4
94
4
101
5
7
102
6
105
10
108
8
11
114
13
123
10
15
125
a. Compute the residuals and choose a residual plot for this problem.
=
x (to 1 decimal)
А.
Residuals
F4
+2
F-2
-4
-6
4
10
12
В.
Residuals
-2
Fo
-2
--4
--6
2
4
10
12
С.
Residuals
-4
-2
-4
4
8
10
12
D.
Residuals
14
2
Fo
-2
-4
10
12
The correct plot of the residuals is
Select your answer - v
b. Do the assumptions about the error term seem reasonable in light of the residual plot?
The assumptions concerning the error term
Select your answer - vreasonable.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman