12 13 A regression model relating the number of salespersons at a branch office

Question

12 13 A regression model relating the number of salespersons at a branch office to annual sales at the office (in $1000) provided the following regression Excel output. (See exercise 42 on page 577 of your textbook for a similar 15 problem.) 16 17 18 Dep.-Annual Sales Indep--$ Salespeople 19 20 SUMMARY OUTPUT 21 Regression Skafisfics 23 Multiple R 24 R Square 25 Adjusted R Square 26 Standard Error 27 Observations 28 29 ANOVA 30 31 Regression 32 Residual 33 Total 34 35 36 Intercept 37 # Salespeople 38 38.4450 11.0000 Siouficance F 274.243.6364 Lower 95% 59.9556 Upper 95% 266.8529 CoefficienfsSfandard Esror f Staf 0.0060 0.0000 3.5732 163.4043 43.6862 45.7301 40 Question 1 The Least Squares Method determined the values of bO and b1 that minimized this sum. What is the resulting value? 43 45 Click to Grade Your Work

Explanation / Answer

Solution:

Here we are given with the output of regression of number of sales persons in the branch to the annual sale at the office.

Using this we need to obtain the required values.

Here the value of the coefficients b0=163.4043 and b1=43.6862.

So, the sum will be 163.4043+43.6862(salesperson).

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