Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 7 (20 marks) The general manager of a chain of department stores believes that experience is the most important factor in determining the level
Problem 7 (20 marks) The general manager of a chain of department stores believes that experience is the most important factor in determining the level of success of a salesperson. To examine this belief, she records last month's sales (in $1 ,000s) and the years of experience of 10 randomly selected salespeople. These data are listed below. Salesperson Years of Experience Sales 1 20 30 2 2 9 3 5 14 4 3 15 5 8 18 6 7 17 7 12 20 8 0 7 9 10 20 10 15 25 Assume normality of variables. :1) Calculate the coefcient of correlation r. Provide an interpretation of the computed value of r. (9 marks) b) Calculate the coefcient de determination r square (R2). Provide an interpretation of the computed value of r square (R2). (3 marks) c) Determine the least squares line. Provide an interpretation of your results. (8 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started