Data from a small bookstore are shown in the accompanying table. What is the value of R squared and what does it mean? What is the value of R squared ? What does the value of R squared mean? The table displays the relationship between the number of salespeople working and the corresponding sales figures, measured in thousands of dollars.**Table Overview:**| Number of Salespeople Working | Sales (in $1000) ||-------------------------------|-------------------|| 2 | 10 || 4 | 11 || 7 | 13 || 9 | 14 || 10 | 19 || 10 | 21 || 12 | 21 || 14 | 23 || 16 | 23 || 18 | 27 |**Statistical Summary:**- **Mean Number of Salespeople ($ \overline{x} $):** 10.2- **Standard Deviation of Number of Salespeople (SD(x)):** 5.05- **Mean Sales ($ \overline{y} $):** 18.2- **Standard Deviation of Sales (SD(y)):** 5.81### Analysis:- The table suggests a positive correlation between the number of salespeople and sales revenue, indicating that sales generally increase as more salespeople are employed.- The means and standard deviations provided offer insight into the average values and variability within the data sets. This data can be used to analyze the efficiency of manpower in sales and help in making informed business decisions regarding staffing and projected sales performance.

Given data: Number of sales people working (x) Sales (y) 2 10 4 11 7 13 9 14 10 19 10…

Answered: Data from a small bookstore are shown…

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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Data from a small bookstore are shown in the accompanying table. What is the value of R squared and what does it mean? What is the value of R squared ? What does the value of R squared mean?

The table displays the relationship between the number of salespeople working and the corresponding sales figures, measured in thousands of dollars.

**Table Overview:**

| Number of Salespeople Working | Sales (in $1000) |
|-------------------------------|-------------------|
| 2 | 10 |
| 4 | 11 |
| 7 | 13 |
| 9 | 14 |
| 10 | 19 |
| 10 | 21 |
| 12 | 21 |
| 14 | 23 |
| 16 | 23 |
| 18 | 27 |

**Statistical Summary:**

- **Mean Number of Salespeople ($ \overline{x} $):** 10.2
- **Standard Deviation of Number of Salespeople (SD(x)):** 5.05
- **Mean Sales ($ \overline{y} $):** 18.2
- **Standard Deviation of Sales (SD(y)):** 5.81

### Analysis:

- The table suggests a positive correlation between the number of salespeople and sales revenue, indicating that sales generally increase as more salespeople are employed.
- The means and standard deviations provided offer insight into the average values and variability within the data sets.

This data can be used to analyze the efficiency of manpower in sales and help in making informed business decisions regarding staffing and projected sales performance.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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