A distributor of cosmetics has sales representatives in various metropolitan areas all over the country. They have collected dat
a over the past year looking for a relationship between the number of months of Experience a sales representative has in cosmetic sales (X), and the monthly sales volume (Y, in thousands of dollars) for the sales representative in a given month. The data was gathered from representatives with 0 - 60 months experience. A scatterplot of the data showed a positive linear relationship, and a simple regression model was determined. The results are given by:___________.
where a = the slope of the line and b is the intercept or the value of Y when X = 0.
Step-by-step explanation:
The simple linear regression is a model for estimating the relationship that exists between an independent variable and a dependent variable. The model uses a straight line for two quantitative variables. With a scatter graph, the line of best fit is given as the equation, y = bX + a. This equation determines the values of b and a for a dataset of two variables. It can also be used to estimate the value of Y for a given value of X.
