Q5 A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersorYears ofAnnual SalesSalespersonExperience($1000s)118022893399411851366.71407152811168121871014196The data on y = annual sales ($1000s) for new customer accounts and x = number of years of experience for a sample of 10 salespersons provided theestimated regression equation ŷ = 79.14 + 8.56x. For these data i = 6.7, ) (x; – ) = 190.10, and s =8.6531.%3D-a. Develop the 95% confidence interval for the mean annual sales ($1000s) for all salespersons with thirteen years of experience.($$) (to 2 decimals)b. The company is considering hiring Tom Smart, a salesperson with thirteen years of experience. Develop a 95% prediction interval of annual sales ($1000s)for Tom Smart.($2$) (to 2 decimals)c. Discuss the differences in your answers to parts (a) and (b).As expected, the prediction interval is much widerthan the confidence interval. This is due to the fact that it is moredifficultto predict annual sales for one new salesperson with 13 years of experience than it is to estimate the mean annual sales for allsalespersons with 13 years of experience.LO

Name: Q5 A sales manager collected the following data on annual sales for ne
Uploaded: 2024-03-20T06:47:08.000Z
Channel: Bartleby
Description: Q5 A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersorYears ofAnnual SalesSalespersonExperience($1000s)118022893399411851366.714071528111681218710