question archive The manager of a local company gathered the following information on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons
The manager of a local company gathered the following information on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons
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The manager of a local company gathered the following information on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Salesperson Years of Annual Sales ($1000)
Experience
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)
Develop a scatter diagram for these data with years of experience as the independent variable. Choose Correctly
A scatter diagram has 10 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Years of Experience. The vertical axis ranges from 50 to 150 and is labeled: Annual Sales ($1,000s). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 1 to 13 on the horizontal axis and between 80 to 140 on the vertical axis. The points are fairly close together.
A scatter diagram has 10 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Years of Experience. The vertical axis ranges from 50 to 150 and is labeled: Annual Sales ($1,000s). 7 of the points are plotted from left to right in an upward, diagonal direction starting from the left side of the diagram and are between 1 to 10 on the horizontal axis and between 100 to 140 on the vertical axis. The other 3 points are plotted between 10 to 13 on the horizontal axis and between 80 to 100 on the vertical axis. In each group, the points are fairly close together.
A scatter diagram has 10 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Years of Experience. The vertical axis ranges from 50 to 150 and is labeled: Annual Sales ($1,000s). The points are plotted from left to right in an upward, diagonal direction starting from the lower left corner of the diagram and are between 1 to 13 on the horizontal axis and between 75 to 135 on the vertical axis. The points are fairly close together.
A scatter diagram has 10 points plotted on it. The horizontal axis ranges from 0 to 14 and is labeled: Years of Experience. The vertical axis ranges from 50 to 150 and is labeled: Annual Sales ($1,000s). The points are plotted from left to right in a downward, diagonal direction starting from the upper left corner of the diagram and are between 1 to 13 on the horizontal axis and between 80 to 140 on the vertical axis. The points are fairly close together.
(b)
Develop an estimated regression equation that can be used to predict annual sales (in $1,000s) given the years of experience.
? = ____________________
(c)
Use the estimated regression equation to predict annual sales (in $1,000s) for a salesperson with 7 years of experience.
$_____________________________ thousand
