Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

image text in transcribed
image text in transcribed
image text in transcribed
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 XUMiner Analysis ToolPak add-in manually from the home ribbon. Screenshot of ToolPak a. Compute b1 and b0 (to 1 decimal). b1=b0= Complete the estimated regression equation (to 1 decimal). y=x b. According to this model, what is the change in annual sales (\$1000s) for every year of experience. (to 1 decimal)? c. Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1 . r2= What percentage of the variation in annual sales ( $1000 s) can be explained by the vears of experience of the salesperson (to 1 decimal)? % a. Compute b1 and b0 (to 1 decimal). b1=b0= Complete the estimated regression equation (to 1 decimal). y=x b. According to this model, what is the change in annual sales ( $1000 s) for every year of experience (to 1 decimas)? c. Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1 . r2= What percentage of the variation in annual sales ( $1000 s) can be explained by the years of experience of the salesperson (to 1 decimal)? \% d. A new salesperson joins the team with 8 years of experience. What is the estimated annual sales ( 51000s ) for the new salesperson (to the nearest whole number)? General D1 \begin{tabular}{|c|c|c|c|} \hline 4 & A & B & C \\ \hline 1 & Salesperson & Years of Experience & Annual Sales (\$1000s) \\ \hline 2 & 1 & 3 & 78 \\ \hline 3 & 2 & 4 & 101 \\ \hline 4 & 3 & 5 & 93 \\ \hline 5 & 4 & 4 & 97 \\ \hline 6 & 5 & 7 & 100 \\ \hline 7 & 6 & 7 & 108 \\ \hline 8 & 7 & 11 & 115 \\ \hline 9 & 8 & A+D2 & 5 \\ \hline 10 & 9 & 11 & 121 \\ \hline 11 & 10 & 13 & 133 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Evolutionary Finance

Authors: Bartholomew Frederick Dowling

1st Edition

0230502199, 9780230502192

More Books

Students also viewed these Finance questions

Question

Explain the meaning of b^ 0 in the sample regression equation.

Answered: 1 week ago