Question
The senior sales director of a large manufacturing company wishes to investigate the impact of years of experience (x) on the sales in thousands of
The senior sales director of a large manufacturing company wishes to investigate the impact of years of experience (x) on the sales in thousands of dollars (y) generated by the sales representatives in her company. She collected data on from a sample of 13 sales reps. The results are shown in the table below.
Years of Experience (x) | Sales in Thousands of Dollars (y) |
---|---|
21 | 18 |
6 | 2 |
26 | 57 |
28 | 48 |
14 | 21 |
3 | 22 |
10 | 38 |
10 | 18 |
19 | 37 |
26 | 33 |
11 | 20 |
20 | 22 |
10 | 32 |
a) Based on the data shown in the table, use software such as Excel to calculate the slope and y-intercept and determine the regression line. Round each value to two decimal places.
y=??+??x
b) Calculate the coefficient of correlation. Round answer to three decimal places.
r=
b) Use the regression equation to predict the sales, in thousands of dollars, if a salesperson has 10 of experience. Round answer to two decimal places.
__________ thousand dollars
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