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A sales manager collected the following data on annual sales and years of experience. The estimated regression equation is Ybar=80+4x
Salesperson Years of experience Annual Sales (1000s)
1 1 80
2 3 97
3 4 92
4 4 102
5 6 103
6 8 111
7 10 119
8 10 123
9 11 117
10 13 136
a) Compute the SST SSR and SSE
b) Compute the coefficient of determination r^2 comment on the goodness of fit.
c) What is the value of the sample correlation coefficient.
Explain the difference between descriptive and prescriptive (optimization) models. Describe how to use Excel data tables, scenario manager, and goal seek tools to analyze decision models.
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a sample of 51 observations has a mean of 98 and a standard deviation of 7. a second sample of 69 observations has a
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one environmental group did a study of recycling habits in a california community. it found that 70 of the aluminum
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What are the main difference between the frequency distribution of continuous data and discrete data.2. How would you present a continuous data as though discrete?
a local police precinct has seen a recent increase in the number of complaints filed regarding how officers are
If demand is normally distributed, a basic EOQ is appropriate. a single-period model could not be appropriate. we should produce to fill demand, rather than filling it through orders.
the average time it takes for a person to experience pain relief from aspirin is 25 minutes. a new ingredient is added
A rental agent claims that the mean monthly rent,u, for apartments on the east side of town is less than$725 . A random sample of 13 monthly rents for apartments on the east side has a mean of$714
To evaluate average annual expenses of students on books and class materials sample size 36 is taken.
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