A sales manager collected data on an annual sales for new customer accounts, and the number of years of experience for sample of 10 sales persons. In Microsoft excel online file below, you will find a sample data on years of experience of the sales person annual sales. Conduct a regression analytics for the relationship between these two variables, and then answer the following questions.

a. Compute b1 and b0 (to 1 decimal)

b1=

b0=

complete the estimated regression equation (to 1decimal)

y= __ + ___ x

b. according to this model, what is the change in annual sales ($1000s) for every year of experience?

c. Compute the coefficient of determination (to 3 decimals). Note r2 between 0 and 1.

r2=

what percentage of the variation in annual sales can be explained by the years of experience of the sales person?

d. A new sales person joins the team with six years of experience. What is the estimated annual sales for the new sales person?