Answered: A sales manager collected the following…

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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Related questions

Question

A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is

ŷ = 81 + 4x.

Salesperson	Years of Experience	Annual Sales ($1,000s)
1	1	80
2	3	97
3	4	97
4	4	102
5	6	103
6	8	111
7	10	119
8	10	128
9	11	117
10	13	136

(a)

Compute SST, SSR, and SSE.

SST=

SSR=

SSE=

(b)

Compute the coefficient of determination

r².

(Round your answer to three decimal places.)

r²

Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.)

The least squares line provided a good fit as a small proportion of the variability in y has been explained by the least squares line.The least squares line did not provide a good fit as a small proportion of the variability in y has been explained by the least squares line. The least squares line provided a good fit as a large proportion of the variability in y has been explained by the least squares line.The least squares line did not provide a good fit as a large proportion of the variability in y has been explained by the least squares line.

(c)

What is the value of the sample correlation coefficient? (Round your answer to three decimal places.)

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