This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Key in a value for Y' and press
4. Press to display the X' variable. 5. Press . to compute an X' value. Chapter 6: Using the Statistics Worksheet 53 Example: OneVariable Statistics
You randomly select a sample of 10 stores to see how much they charge for
a particular item. You find the following prices.
$63, $66, $69, $69, $71, $72, $74, $74, $74, $76
Find the mean and the sample standard deviation.
Procedure Keystrokes Select dataentry
portion of Statistics
worksheet. Display X01 (old contents) Clear worksheet. X01 0.00 X01 =
Y01 = 63.00
1.00 66 X02 =
Y02 = 66.00
1.00 69
2 X03 =
Y03 = 69.00
2.00 71 X04 =
Y04 = 71.00
1.00 72 X05 =
Y05 = 72.00
1.00 74
3 X06 =
Y06 = 74.00
3.00 76 Enter data set. X07 =
Y07 = 76.00
1.00 63 Select statistical
calculation portion of
Statistics worksheet. (old contents) Clear worksheet. LIN Select onevariable
calculation method. (as necessary) 1V View sample size. n= 10.00 View mean. x= 70.80 View sample
standard deviation. Sx = 54 4.08 Chapter 6: Using the Statistics Worksheet Example: TwoVariable Statistics
A life insurance company wants to explore the relationship between the
number of salespeople in an office and the volume of sales. Offices in
various cities have the following number of salespeople and resulting sales.
Number of salespeople Sales $ per month 7
12
4
5
11
9 99,000
152,000
81,000
98,000
145,000
112,000 Treating the number of salespeople as the X variable and the sales per
month as the Y variable, use the linear regression model to perform the
following analysis.
Determine the Yintercept, slope, and correlation coefficient of the data.
Predict the amount of sales (Y') if the company establishes a new office
with 10 salespeople.
Determine the number of salespeople needed (X') to produce $115,000 in
monthly sales. Part 1: Entering the Data
Procedure Keystrokes Display Select dataentry
portion of Statistics
worksheet. X01 (old contents) Clear worksheet. X01 0.00 99000 X01 =
Y01 = 7.00
99,000.00 12
152000 X02 =
Y02 = 12.00
152,000.00 4
81000 X03 =
Y03 = 4.00
81,000.00 5
98000 X04 =
Y04 = 5.00
98,000.00 11
145000 X05 =
Y05 = 11.00
145,...
View
Full
Document
This homework help was uploaded on 04/03/2014 for the course ECON 203 taught by Professor Petry during the Summer '09 term at University of Illinois, Urbana Champaign.
 Summer '09
 PETRY

Click to edit the document details