b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience. Compute b₁ and bo (to the nearest whole number). b₁ bo 4 80 Complete the estimated regression equation below. = 80 + 4 c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience (to the nearest whole number). $ 116
b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience. Compute b₁ and bo (to the nearest whole number). b₁ bo 4 80 Complete the estimated regression equation below. = 80 + 4 c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience (to the nearest whole number). $ 116
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

Transcribed Image Text:b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience.
Compute b₁ and bo (to the nearest whole number).
b₁
bo
4
80 ✔
Complete the estimated regression equation below.
ý
= 80+ 4
X
c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience (to the nearest whole number).
$ 116

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. Click on the datafile logo to
reference the data.
DATA file
A.
B.
a. Choose the correct scatter diagram for these data with years of experience as the independent variable.
140 Annual Sales ($1000s)
+120
+100
+80
+60
+40
+20
1140'
+120
●
+100
+60
+80.
+40
-20
Annual Sales ($1000s)
●
8
1
Years of Experience
10
12
14
Salesperson
1
2
3
4
5
6
7
8
9
10
Years of Experience
14
10
12
Years of
Experience
1
3
4
4
6
8
10
10
11
13
Annual
Sales
($1000s)
80
97
92
102
103
111
119
123
117
136
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