Sales ($ thousands) Hours spent with customers 412 3.2 500 4.6 450 3.9 610 5.3 715 6.1 500 4.2 610 5.6 600 5.3 570 5.1 800 7.1 725 6.5 850 7.8 1. What is the predictor (independent) and response (dependent) variables for this problem? 2. Make a scatterplot for predicting sales from hours spent. Paste the scatter plot below. 3. Run regression analysis using excel with the data from the above table. Paste the regression output below and upload the excel file with your submission. 4. What is the regression equation for predicted Sales? 5. What would be the predicted Sales if the salesperson spent 5 hours with the customer? 6. The manager has decided to look at other factors related to each person's sales. Below is the new sales data with multiple factors (i.e. hours, quarterly bonus, and a percentage discount given to customers). Answer the two bullet point below. Sales ($ thousands) Hours spent with customers Quarterly Bonus Discount Given to ($) Customer (%) 412 3.2 100 5 500 4.6 150 3 450 3.9 95 12 610 5.3 300 5 715 6.1 575 2 500 4.2 167 5 610 5.6 290 10 600 5.3 300 7 570 5.1 195 30 800 7.1 500 17 725 6.5 500 25 850 7.8 525 10 Run regression analysis using excel with the data from the above table. Paste the regression output below and upload the excel file with your submission. Which factors are good predictors of sales? Write a short paragraph explaining your answer.
Sales ($ thousands) Hours spent with customers 412 3.2 500 4.6 450 3.9 610 5.3 715 6.1 500 4.2 610 5.6 600 5.3 570 5.1 800 7.1 725 6.5 850 7.8 1. What is the predictor (independent) and response (dependent) variables for this problem? 2. Make a scatterplot for predicting sales from hours spent. Paste the scatter plot below. 3. Run regression analysis using excel with the data from the above table. Paste the regression output below and upload the excel file with your submission. 4. What is the regression equation for predicted Sales? 5. What would be the predicted Sales if the salesperson spent 5 hours with the customer? 6. The manager has decided to look at other factors related to each person's sales. Below is the new sales data with multiple factors (i.e. hours, quarterly bonus, and a percentage discount given to customers). Answer the two bullet point below. Sales ($ thousands) Hours spent with customers Quarterly Bonus Discount Given to ($) Customer (%) 412 3.2 100 5 500 4.6 150 3 450 3.9 95 12 610 5.3 300 5 715 6.1 575 2 500 4.2 167 5 610 5.6 290 10 600 5.3 300 7 570 5.1 195 30 800 7.1 500 17 725 6.5 500 25 850 7.8 525 10 Run regression analysis using excel with the data from the above table. Paste the regression output below and upload the excel file with your submission. Which factors are good predictors of sales? Write a short paragraph explaining your answer.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Excel Assignment Linear Regression
The manager of a company that relies on traveling salespersons to sell the company’s products wants to examine the relationship between sales and the amount of time a salesperson spends with each established customer who regularly orders the company’s products. He or she believes that sales can be predicted by the amount of time a salesperson spends with a customer. The manager collects the data on 12 salespersons.
Submit both the word and excel file in your submission.
Transcribed Image Text:Sales ($
thousands)
Hours spent with
customers
412
3.2
500
4.6
450
3.9
610
5.3
715
6.1
500
4.2
610
5.6
600
5.3
570
5.1
800
7.1
725
6.5
850
7.8
1. What is the predictor (independent) and response (dependent) variables for
this problem?
2. Make a scatterplot for predicting sales from hours spent. Paste the scatter plot
below.
3. Run regression analysis using excel with the data from the above table. Paste
the regression output below and upload the excel file with your submission.
4. What is the regression equation for predicted Sales?
Transcribed Image Text:5. What would be the predicted Sales if the salesperson spent 5 hours with the
customer?
6. The manager has decided to look at other factors related to each person's
sales. Below is the new sales data with multiple factors (i.e. hours, quarterly
bonus, and a percentage discount given to customers). Answer the two bullet
point below.
Sales ($ thousands)
Hours spent
with customers
Quarterly Bonus
Discount Given to
($)
Customer (%)
412
3.2
100
5
500
4.6
150
3
450
3.9
95
12
610
5.3
300
5
715
6.1
575
2
500
4.2
167
5
610
5.6
290
10
600
5.3
300
7
570
5.1
195
30
800
7.1
500
17
725
6.5
500
25
850
7.8
525
10
Run regression analysis using excel with the data from the above table. Paste the
regression output below and upload the excel file with your submission.
Which factors are good predictors of sales? Write a short paragraph explaining
your answer.
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