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A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of

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A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Salesperson Years of Experience Annual Sales ($1000s) 80 2 3 97 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 g 11 117 10 13 136 a) Find the least squares line relating Annual Sales (y) to Years of experience (x). Interpret practically, the estimated slope of the line b) Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience c) Compute the SSE (sum of squared residuals) d) Compute the $5yy (sum of squares of deviations for the model y = y ). Note: This figure is also called the total sum of squares (TSS) e) Compute the coefficient of determination, r. Comment on the goodness of fit. () What is the value of the sample correlation coefficient? g) Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years of experience h) The company is considering hiring Jill Smith, a salesperson with nine years of experience. Develop a 95% prediction interval of annual sales for Jill Smith i) Discuss the differences in your answers in parts (g) and (h)

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