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3 A sales manager collected the following data on x = years of experience and y = annual sales ($1,0005). The estimated regression equation for
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A sales manager collected the following data on x = years of experience and y = annual sales ($1,0005). The estimated regression equation for these data is y = 81 + 4X. Salesperson Years of Annual Sales Experience ($1,0005) 1 1 80 2 3 97 3 4 97 4 4 102 5 6 103 6 8 111 7 10 119 8 10 128 9 1 1 117 1 13 136 (3) Compute SST, SSR, and SSE. (b) Compute the coefcient of determination r2. (Round your answer to three decimal places.) a: Comment on the goodness of Fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.) O The least squares line did not provide a good t as a large proportion of the variability in y has been explained by the least squares line. 0 The least squares line provided a good t as a small proportion of the variability in y has been explained by the least squares line. 0 The least squares line did not provide a good t as a small proportion of the variability in y has been explained by the least squares line. 0 The least squares line provided a good fit as a large proportion of the variability in y has been explained by the least squares line. (c) What is the value of the sample correlation coefficient? (Round your answer to three decimal places.)Step by Step Solution
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