A manager wishes to determine the relationship between the number of years her sales representatives have been employed by the firm and their amount of sales (in thousands of dollars) per month. Find the least-squares regression line for the given data. What would be the predicted sales if the sales representative was employed by the firm for 30 years? Is this reasonable? Why or why not? Round the least-squares regression line values to two decimal places. Years employed, x 2 3 10 7 8 15 3 1 11 Sales, y 31 33 78 62 65 61 48 55 120
A manager wishes to determine the relationship between the number of years her sales representatives have been employed by the firm and their amount of sales (in thousands of dollars) per month. Find the least-squares regression line for the given data. What would be the predicted sales if the sales representative was employed by the firm for 30 years? Is this reasonable? Why or why not? Round the least-squares regression line values to two decimal places. Years employed, x 2 3 10 7 8 15 3 1 11 Sales, y 31 33 78 62 65 61 48 55 120
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 2ECP
Related questions
Question
A manager wishes to determine the relationship between the number of years her sales representatives have been employed by the firm and their amount of sales (in thousands of dollars) per month. Find the least-squares regression line for the given data. What would be the predicted sales if the sales representative was employed by the firm for 30 years? Is this reasonable? Why or why not? Round the least-squares regression line values to two decimal places.
|
Years employed, x
|
2
|
3
|
10
|
7
|
8
|
15
|
3
|
1
|
11
|
|
|---|---|---|---|---|---|---|---|---|---|---|
|
Sales, y
|
31
|
33
|
78
|
62
|
65
|
61
|
48
|
55
|
120
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt