The following data were used in a regression study. Observation 1 2 2 4 5 6 8 5 4 4 6 4 11 (a) Develop an estimated regression equation for these data. (Round your numerical values to two decimal places.) (b) Construct a plot of the residuals. 2 N N Residuals Residuals Residuals 0 Residuals O 0 - 2 - 2 - 2 - 2 -4 -4 -4 -4 2 6 8 10 O 2 4 6 8 10 0 2 4 6 10 2 6 8 10 X X X X Do the assumptions about the error term seem to be satisfied? The plot suggests a funnel pattern in the residuals indicating that the error term assumptions are not satisfied. O The plot suggests curvature in the residuals indicating that the error term assumptions are not satisfied. The plot suggests a generally horizontal band of residual points indicating that the error term assumptions are not satisfied. O The plot suggests curvature in the residuals indicating that the error term assumptions are satisfied. The plot suggests a funnel pattern in the residuals indicating that the error term assumptions are satisfied.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 y = 80 + 4x. Salesperson Years of Annual Sales Experience ($1,000s) 1 1 80 2 3 37 3 4 32 4 4 102 5 6 103 8 111 7 10 119 8 10 123 9 11 117 10 13 136 (a) Compute the residuals. Years of Annual Sales Experience ($1,000s) Residuals 30 3 97 92 A 102 103 111 10 119 10 123 1 1 117 13 136Construct a residual plot. 16 16 12 - 16 16 N 8 - 12- Residuals Residuals Residuals Residuals -4 -8 -12 -12 - -8 -16 -12 -12 0 -16 2 4 6 8 10 12 14 - 16 2 4 6 8 10 12 14 - 16- 0 2 4 6 8 10 12 14 0 Years of Experience 2 O 4 6 8 10 12 14 Years of Experience Years of Experience Years of Experience (b) Do the assumptions about the error terms seem reasonable in light of the residual plot? The plot suggests a funnel pattern in the residuals indicating that the error term assumptions appear reasonable. O The plot suggests a funnel pattern in the residuals indicating that the error term assumptions do not appear reasonable. The plot suggests curvature in the residuals indicating that the error term assumptions appear reasonable. The plot suggests a generally horizontal band of residual points indicating that the error term assumptions do not appear reasonable. The plot suggests a generally horizontal band of residual points indicating that the error term assumptions appear reasonable