STATISTICS F/BUSINESS+ECONOMICS-TEXT
STATISTICS F/BUSINESS+ECONOMICS-TEXT
13th Edition
ISBN: 9781305881884
Author: Anderson
Publisher: CENGAGE L
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Chapter 14.6, Problem 36E

In exercise 7, the data on y = annual sales ($ 1000s) for new customer accounts and x = number of years of experience for a sample of 10 salespersons provided the estimated regression equation ŷ = 80 + 4x. For these data x ¯ = 7 , ( x i x ¯ ) 2 = 142 , and s = 4.6098.

  1. a. Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years of experience.
  2. b. The company is considering hiring Tom Smart, a salesperson with nine years of experience. Develop a 95% prediction interval of annual sales for Tom Smart.
  3. c. Discuss the differences in your answers to parts (a) and (b).
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Chapter 14 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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