Question

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. 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 1 85
2 3 97
3 3 95
4 5 97
5 7 105
6 8 106
7 10 122
8 10 120
9 12 113
10 12 134


a. According to this model, what is the change in annual sales ($1000s) for every year of experience
b. Compute the coefficient of determination (to 3 decimals).
c. What percentage of the variation in annual sales ($1000s) can be explained by the years of experience of the salesperson (to 1 decimal)?

Answer 1

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