B) what does b1 mean in this context? On average $____ is expected when 0 sales

Question

B) what does b1 mean in this context? On average $____ is expected when 0 sales people are working OR an additional $____ of Wales is associates with each additional sales person working
C) Find the intercept, b0
D) what does b0 mean in this context?
E) write the equation that predicts sales from number of sales people working.
F) if 17 people are working sales would be __
G) if sales are actually $25,000, what is the value of the residual? Do Homework - Christina Henry Google Chrome Secure https://www.mathod.com/Student/PlayerHomework.aspxthomeworkid 4334345148 questioeld- 18flushed fabe&cld; 4529798 BUSA 2100 A Fall1? lina Henry Homework: CH04b Linear Regression Score: 0 of 4 pts HWScore: 5481%, 11 51 of 21 pts Question Hep * Section 4.6 Exercise 13-T Data from a smal bookstare are shown in the accompanying table. The macager wants to predict Sales from Namber of Sales People Working Complete parts a through h below 4)Cick the icon te viens the data table )a)Find the slope estimate, b bReund to three decimal places as needed j amber of sate Sales On $100 1.50 13 13 24 dy 103 0-5 1 50-647 PntDone

Explanation / Answer

Here Sum = 8.5885

So r = ZxZy /(N-1) = 8.5885/9 = 0.9543

Here slope b1 = r (Sy/Sx) = 0.9543 * (5.46/5.01) = 1.041

B) what does b1 mean in this context?

an additional $ 1.041of Wales is associates with each additional sales person working

C) Find the intercept, b0

let say the line equation is y^ = b0 + 1.041x

so that will pass through mean point (10.3, 17.9)

17.9 = b0 + 1.041 * 10.3

b0 = 7.178

D) what does b0 mean in this context?

Here when there is no sales peopleworking, thenthere would be $ 7.178 (in thousand dollars) will be the sale.

E) write the equation that predicts sales from number of sales people working.

y^ = 7.178 + 1.041 x

F) if 17 people are working sales would be __

y^ (17) = 7.178 + 1.041 * 17 = 24.875 k = $ 24875

G) if sales are actually $25,000, what is the value of the residual?

Residual= actual - preicted = $25000 - $ 24875 = $ 125

x y Z(X) Z(Y) ZxZy 3 10 -1.4564 -1.4453 2.1050 4 11 -1.2569 -1.2623 1.5867 6 13 -0.8579 -0.8964 0.7691 9 14 -0.2594 -0.7135 0.1851 10 19 -0.0599 0.2012 -0.0120 10 21 -0.0599 0.5671 -0.0339 13 21 0.5387 0.5671 0.3055 14 22 0.7382 0.7501 0.5537 16 22 1.1372 0.7501 0.8530 18 26 1.5362 1.4819 2.2765 Mean 10.3 17.9 Sum 8.5885 Stdev 5.012207 5.466057

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