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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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