A company wants to hire sales representatives. In their interview, they requested the interviewees to state their
Question:
A company wants to hire sales representatives. In their interview, they requested the interviewees to state their monthly sales (in $000) at their current company, and the number of years the interviewees had been working in the industry. The following table shows the analysis output for all the interviewees:
Dependent variable is: Monthly Sales (in $000)
R Square 0.8795 Standard Error 3.0018 Variable Coefficient SE(Coeff) t-ratio P-value Intercept 7.4629 1.7067 4.3727 0.0024 Years of Experience 1.1909 0.1559 7.6405 0.0001 Find the following facts in this output or determine them from what you know.
a) The standard error of the analysis.
b) The slope of the regression line.
c) The standard error of b1.
d) The P-value appropriate for testing H0: b1 = 0 versus HA: b1 0.
e) Is the null hypothesis rejected at a = 0.05?
Step by Step Answer:
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman