MGMT305 HW 5 In exercise 7 a sales manager collected the following data on x annual sales and y years of experience. The estimated regression equation
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MGMT305 HW#5 Due date: April 17th, 2013
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19. In exercise 7 a sales manager collected the following data on x annual sales and y years of experience. The estimated regression equation for these data is (webfile: )
a. Compute SST, SSR, and SSE SST SSRSSE
Years Sales Ybar 804X
SST SSE SSR 1 80 108 84 -28 784 16
3 97
92 -11 121 25
4 92
96 -16 256 16
4 102
96 -6 36 36
6 103
104 -5 25 1
8 111
112 3 9 1
10 119
120 11 121 1
10 123
120 15 225 9
11 117
124 9 81 49
13 136
132 28 784 16
Total
2442 170 2272
b. Compute the coefficient of determination r2. Comment on the goodness of fit. R2SSR/SST2272/2442 We see that % of the variability in y has been explained by the least squares line. c. What is the value of the sample correlation...
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