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# w14_Ex - 1 A sales manager has collected the following data...

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1. A sales manager has collected the following data on annual sales ( y in \$1000s) and years of experience ( x ) . x y 1 80 3 97 4 92 4 102 6 103 8 111 10 119 10 123 11 117 13 136 with summary information as following: ° x = 7 ; s x = 3 : 97 ; ° y = 108 ; s y = 16 : 47 ; r = 0 : 9646 (a) Develop an estimated regression equation that can be used to predict annual sales given years of experience. (b) John has two years of more experience than Sarah, do you think John°s annual sales will be higher than Sarah°s annual sales? If yes, higher by what amount? (c) A new hire has 20 years of experience, do you think you can predict his annual sales through the linear regression model developed in (a)? (d) At 5% level of signi±cance, do you think there is a positive linear relationship between x and y ? (e) Predict annual sales for a salesperson with 9 years of experience. (f) Give a 95% interval estimate of average annual sales for people with 9 years of experience. (g) Anthony is found to have 9 years of experience, give a 95% interval estimate of Anthony°s annual sales.

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w14_Ex - 1 A sales manager has collected the following data...

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