A sales manager collected data on annual sales for new customer accounts and the number of years of experience for a sample of $10$ salespersons. In the Microsoft Excel Online file below you will find a sample of data on years of experience of the salesperson and annual sales. Conduct a regression analysis to explore the relationship between these two variables and then answer the following questions.

Due to a recent change by Microsoft you will need to open the XLMiner Analysis ToolPak add$-$in manually from the home ribbon. Screenshot of ToolPak

Open spreadsheet

a$.$ Compute $b_1$ and $b_0($to $1$ decimal$).$

$b_1=$

$b_0=$

Complete the estimated regression equation $($to $1$ decimal$).$

hat$(y)=$

b$.$ According to this model, what is the change in annual sales $($ $$1000$ s$)$ for every year of experience $($to $1$ decimal$)?$

c$.$ Compute the coefficient of determination $($to $3$ decimals$).$ Note: report $r^2$ between $0$ and $1.$

$-2$

a$.$ Compute $b_1$ and $b_0($to $1$ decimal$).$

$b_1=$

$b_0=$

Complete the estimated regression equation $($to $1$ decimal$).$

b$.$ According to this model, what is the change in annual sales $($ $$1000$ s$)$ for every year of experience $($to $1$ decimal$)?$

$3\mathrm{.}70$

c$.$ Compute the coefficient of determination $($to $3$ decimals$).$ Note: report $r^2$ between $0$ and $1.$

$r^2=0\mathrm{.}84566$

What percentage of the variation in annual sales $($$$1000$s$)$ can be explained by the years of experience of the salesperson $($to $1$ decimal$)?$

$84\mathrm{.}56\%$

d$.$ A new salesperson joins the team with $8$ years of experience. What is the estimated annual sales $($ $$1000$ s$)$ for the new salesperson $($to the nearest whole number$)?$

$5,103\mathrm{.}366$

Dpen spreadsheet

a$.$ Compute $b_1$ and $b_0($to $1$ decimal$).$

$b_1=$

$b_0=$

Complete the estimated regression equation $($to $1$ decimal$).$

hat$(y)=1,3+x$

b$.$ According to this model, what is the change in annual sales $($ $$1000$ s$)$ for every year of experience $($to $1$ decimal$)?$

c$.$ Compute the coefficient of determination $($to $3$ decimals$).$ Note: report $r^2$ between $0$ and $1.$

$r^2=$

What percentage of the variation in annual sales s$)$ can be explained by the years of experience of the salesper $($to $1$ decimal$)?$

$\%$

d$.$ A new salesperson joins the team with $8$ years of experience. What is the estimated annual sales $($ $$1000$ s$)$ for the new salesperson $($to the nearest whole number$)?$

$\backslash$table$[[1,$Salesperson,Years of Experience,Annual Sales $($$$1000$s$)],[2,1,3,80],[3,2,3,99],[4,3,4,88],[5,4,4,104],[6,5,7,98],[7,6,9,107],[8,7,10,114],[9,8,10,118],[10,9,11,115],[11,10,14,133],[12,,,],[13,,,],[14,,,],[15,,,],[15,,,]]$

a$.$ Compute $b$ and $b$ ito A decimal$).$

$b_1=$

$3\mathrm{.}70$

$r^2-0\mathrm{.}9456$

$84\mathrm{.}56,439$

numberl?

t $103\mathrm{.}36$