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

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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. (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.
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This note was uploaded on 01/01/2010 for the course ISOM ISOM111 taught by Professor Anthonychan during the Spring '09 term at HKUST.

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

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