Question
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these
A sales manager collected the following data on x = years of experience and y = annual sales ($1,000s). The estimated regression equation for these data is
= 80 + 4x.
Salesperson | Years of Experience | Annual Sales ($1,000s) |
---|---|---|
1 | 1 | 80 |
2 | 3 | 97 |
3 | 4 | 97 |
4 | 4 | 102 |
5 | 6 | 103 |
6 | 8 | 101 |
7 | 10 | 119 |
8 | 10 | 118 |
9 | 11 | 127 |
10 | 13 | 136 |
(a)Compute SST, SSR, and SSE.
SST=
SSR=
SSE=
(b)Compute the coefficient of determination
r2.(Round your answer to three decimal places.)
r2=
Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.)
The least squares line did not provide a good fit as a small proportion of the variability in y has been explained by the least squares line.
The least squares line provided a good fit as a small proportion of the variability in y has been explained by the least squares line.
The least squares line did not provide a good fit as a large proportion of the variability in y has been explained by the least squares line.
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.)
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