Question
The data on y = annual sales ($1,000s) for new customer accounts and x = numberof years of experience for a sample of 10 salespersons
The data ony= annual sales ($1,000s) for new customer accounts andx= numberof years of experience for a sample of 10 salespersons provided the estimated regression equation
= 80 + 4x.
For these data,
x= 7,
(xix)2= 142,
and
s= 4.6098.
(a)Develop a 95% confidence interval for the mean annual sales (in thousands of dollars) for all salespersons withtwoyears of experience. (Round your answers to two decimal places.)$ thousand to $ thousand(b)The company is considering hiring Tom Smart, a salesperson withtwoyears of experience. Develop a 95% prediction interval of annual sales (in thousands of dollars) for Tom Smart. (Round your answers to two decimal places.)$ thousand to $ thousand
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