The table below indicates the number of years of experience of a sample of salespeople who w for Babble Pty Ltd. and their corresponding number of sales over the last month. Q.1.1 Years of Experience (x) 13 7 2 6 8 5 Number of Sales (y) 21 17 8 14 15 11 By completing the table below, and then applying the relevant formulae, determine the line of best fit for this bivariate data set. [NOTE: Do NOT change the units for the variables. No marks will be awarded if the table is not completed] x y x² ху Σε = Σy = Ex² = Exy = Q.1.2 Estimate the number of sales that would have been made in a month by a salesperson who has 11 years of experience. Q.1.3 Using your calculator, determine the coefficient of correlation for the data set. Interpret your answer. Q.1.4 Compute the coefficient of determination for the data set. Interpret your answer.

The table below indicates the number of years of experience of a sample of salespeople who w for Babble Pty Ltd. and their corresponding number of sales over the last month. Q.1.1 Years of Experience (x) 13 7 2 6 8 5 Number of Sales (y) 21 17 8 14 15 11 By completing the table below, and then applying the relevant formulae, determine the line of best fit for this bivariate data set. [NOTE: Do NOT change the units for the variables. No marks will be awarded if the table is not completed] x y x² ху Σε = Σy = Ex² = Exy = Q.1.2 Estimate the number of sales that would have been made in a month by a salesperson who has 11 years of experience. Q.1.3 Using your calculator, determine the coefficient of correlation for the data set. Interpret your answer. Q.1.4 Compute the coefficient of determination for the data set. Interpret your answer.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4A: Problems In Applying The Linear Regression Model

Section: Chapter Questions

Problem 2E

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