Sales by region. A sales manager for a major pharmaceutical company analyzes last years sales data for
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Sales by region. A sales manager for a major pharmaceutical company analyzes last year’s sales data for her 96 sales representatives, grouping them by region (1 = East Coast United States; 2 = Mid West United States; 3 =
West United States; 4 = South United States; 5 = Canada;
6 = Rest of World). She plots Sales (in $1000) against Region (1–6) and sees a strong negative correlation.
She fits a regression to the data and finds:
Sales = 1002.5 - 102.7 Region.
The R2 is 70.5%.
Write a few sentences interpreting this model and describing what she can conclude from this analysis.
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Related Book For
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman
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