We wish to look at the relationship between sales experience...

Name: we wish to look at the relationship between sales experience in years and annual sales in 10000 summary measures are given below n7 sum xi 70 sum xi2 896 sum yi 77 sum yi2 949 and sum x 01542
Uploaded: 2023-05-25T03:36:32-08:00
Duration: 3 min 52 s
Channel: Madhur L
Description: we wish to look at the relationship between sales experience in years and annual sales in 10000 summary measures are given below n7 sum xi 70 sum xi2 896 sum yi 77 sum yi2 949 and sum x 01542

We wish to look at the relationship between sales experience (in years) and annual sales (in \$10,000). Summary measures are given below: $n=7$, $\sum x_i = 70$, $\sum x_i^2 = 896$, $\sum y_i = 77$, $\sum y_i^2 = 949$, and $\sum x_i y_i = 907$ Find $s_e$

Transcript

00:01 Hi students, let us start with our question.

00:03 So, we have been given n is equal to 7, then we have summation x is equal to 70, summation x square is equal to 896, then we have been given summation y is equal to 70, summation y square is equal to 770, and lastly summation xy is equal to 816.

00:28 Now, what we have to find is we need to find se that is the formula for this is given as square root sy minus b into sxy divided by n minus 2.

00:48 Now, let us start to solve our sum, let us find the value of ssy and all the terms.

00:53 So, the formula for ssy is given as summation y square minus summation y to the whole square divided by n.

01:03 Let us substitute the value of these terms to get our final terms.

01:09 I have been given ssy is equal to summation y square minus summation y to the whole square divided by n.

01:20 Let us substitute all the values in this to find our answer.

01:23 So, 770 minus 70 whole square divided by n is 7.

01:30 So, when you will solve this, you will finally get 70 that is our ssy.

01:35 Now, same way we will find ssx.

01:39 So, the formula for this is summation x square minus summation x to the whole square divided by n.

01:48 Now, let us substitute the values in this to solve our sum.

01:51 So, this will be equal to 896 minus 70 whole square divided by 7.

01:58 So, when you will solve this, you will finally get 196.

02:02 Same way we will find ssxy.

02:05 Let us look at that...

Question

We wish to look at the relationship between sales experience (in years) and annual sales (in \$10,000). Summary measures are given below: $n=7$, $\sum x_i = 70$, $\sum x_i^2 = 896$, $\sum y_i = 77$, $\sum y_i^2 = 949$, and $\sum x_i y_i = 907$ Find $s_e$

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