The most recently selected statistics calculation

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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: One-Variable 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 data-entry 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 one-variable calculation method. (as necessary) 1-V 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: Two-Variable 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 Y-intercept, 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 data-entry 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,...
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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.

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