EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 8220100460463
Author: Anderson
Publisher: CENGAGE L
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Chapter 14.3, Problem 19E
In exercise 7 a sales manager collected the following data on x = annual sales and y = years of experience. The estimated regression equation for these data is ŷ = 80 + 4x.
| Salesperson | Years of Experience | Annual Sales ($1000s) |
| 1 | 1 | 80 |
| 2 | 3 | 97 |
| 3 | 4 | 92 |
| 4 | 4 | 102 |
| 5 | 6 | 103 |
| 6 | 8 | 111 |
| 7 | 10 | 119 |
| 8 | 10 | 123 |
| 9 | 11 | 117 |
| 10 | 13 | 136 |
- a. Compute SST, SSR, and SSE.
- b. Compute the coefficient of determination r2. Comment on the goodness of fit.
- c. What is the value of the sample
correlation coefficient ?
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Chapter 14 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
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