In exercise 7, a sales manager collected the following data on $ y = $ annual sales and $ x = $ years of experience. The estimated regression equation for these data is $ \hat{y} = 80 + 4x $.### Data Table| Salesperson | Years of Experience | Annual Sales ($1000s) ||-------------|---------------------|-----------------------|| 1 | 1 | 80 || 2 | 2 | 97 || 3 | 3 | 92 || 4 | 4 | 102 || 5 | 4 | 103 || 6 | 6 | 111 || 7 | 8 | 119 || 8 | 10 | 123 || 9 | 11 | 117 || 10 | 13 | 136 |### Tasksa. Compute SST, SSR, and SSE.- **SSE** (Sum of Squares for Error) \[ \_\_\_\_\_\_\_\]- **SST** (Total Sum of Squares) \[ \_\_\_\_\_\_\_\]- **SSR** (Sum of Squares for Regression) \[ \_\_\_\_\_\_\_\]b. Compute the coefficient of determination $ r^2 $.- $ r^2 $: \[ \_\_\_\_\_\_\_\] %Does this least squares line provide a good fit?- Select: [ Yes / No ]c. What is the value of the sample correlation coefficient (to 2 decimals)?- Sample correlation coefficient: \[ \_\_\_\_\_\_\_\] This information is useful for understanding the relationship between a salesperson's experience and their annual sales, as well as how well the regression model fits the observed data.

(a) Use EXCEL to determine the values of SST, SSR and SSE. EXCEL procedure: Go to EXCEL Go to…

Answered: In exercise 7 a sales manager collected…

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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