Sales Person Intelligence Extroversion $ Sales/Week 1 89 21 2625 2 93 24 2700 3 91 21 3100 4 122 23 3150 5 115 27 3175 6 100 18 3100 7 98 19 2700 8 105 16 2475 9 112 23 3625 10 109 28 3525 11 130 20 3225 12 104 25 3450 13 104 20 2425 14 111 26 3025 15 97 28 3625 16 115 29 2750 17 113 25 3150 18 88 23 2600 19 108 19 2525 20 101 16 2650 Test 0.05 level of significance if intelligence and extroversion can be used to forecast the sale performance. Determine the following: R = ? Intercept = ? Intelligence = ? Extrovesrsion = ? MSRESIDUAL = ? MSREGRESSION = ? FRATIO = ?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
The ABC corporation is opening new retail sales outlets and they want to staff these stores with employees most likely to be successful at selling the products. To meet this goal, ABC decides to study the sales staff at existing stores to determine if intelligence and extroversion (i.e., a friendly and outgoing personality) predict sales performance of current employees. ABC's logic is that if intelligence and extroversion predicts sales performance, then a good strategy for new stores is to hire intelligent extroverts for the sales positions.
To conduct the study, all current retail sales employees at existing stores take psychological tests designed to measure intelligence and extroversion. Also, past sales performance data is checked for each employee. In the end, there are three scores for each sales person:
1. an intelligence score (on a scale of 50-low intelligence to 150-high intelligence),
2. an extroversion score (on a scale of 15-low extroversion to 30-high extroversion), and
3. sales performance expressed as the average dollar amount sold per week.
|
Sales Person |
Intelligence |
Extroversion |
$ Sales/Week |
|
1 |
89 |
21 |
2625 |
|
2 |
93 |
24 |
2700 |
|
3 |
91 |
21 |
3100 |
|
4 |
122 |
23 |
3150 |
|
5 |
115 |
27 |
3175 |
|
6 |
100 |
18 |
3100 |
|
7 |
98 |
19 |
2700 |
|
8 |
105 |
16 |
2475 |
|
9 |
112 |
23 |
3625 |
|
10 |
109 |
28 |
3525 |
|
11 |
130 |
20 |
3225 |
|
12 |
104 |
25 |
3450 |
|
13 |
104 |
20 |
2425 |
|
14 |
111 |
26 |
3025 |
|
15 |
97 |
28 |
3625 |
|
16 |
115 |
29 |
2750 |
|
17 |
113 |
25 |
3150 |
|
18 |
88 |
23 |
2600 |
|
19 |
108 |
19 |
2525 |
|
20 |
101 |
16 |
2650 |
Test 0.05 level of significance if intelligence and extroversion can be used to forecast the sale performance.
Determine the following:
R = ?
Intercept = ?
Intelligence = ?
Extrovesrsion = ?
MSRESIDUAL = ?
MSREGRESSION = ?
FRATIO = ?
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