A sales manager collected data on annual sales for new customer accounts and the number of years of experience for a sample of 1
0 salespersons. In the table below you will find a sample of data on years of experience of the salesperson and annual sales. Conduct a regression analysis to explore the relationship between these two variables and then answer the following questions:
1. Compute b1 and b0 (to 1 decimal).
2. Complete the estimated regression equation (to 1 decimal).
3. According to this model, what is the change in annual sales ($1000s) for every year of experience (to 1 decimal)?
4. Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1.
5. What percentage of the variation in annual sales ($1000s) can be explained by the years of experience of the salesperson (to 1 decimal)?
A sales manager collected data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. In the table below you will find a sample of data on years of experience of the salesperson and annual sales.
Conduct a regression analysis to explore the relationship between these two variables and then answer the following questions.
1. Compute b1 and b0 (to 1 decimal).
2. Complete the estimated regression equation (to 1 decimal).
3. According to this model, what is the change in annual sales ($1000s) for every year of experience (to 1 decimal)?
4. Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1.
What percentage of the variation in annual sales ($1000s) can be explained by the years of experience of the salesperson (to 1 decimal)?
