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A sales manager collected the following data on annual sales and years of experience.a. Develop a scatter diagram for these data with years of experience as the independent variable.b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience.c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience.

a. See scatter diagramb. $\hat{y}=80+4 x$c. $\$ 110,000$

Intro Stats / AP Statistics

Chapter 12

Simple Linear Regression

Linear Regression and Correlation

Temple University

Missouri State University

Oregon State University

University of St. Thomas

Lectures

0:00

07:07

A company manager wants to…

01:51

Constructing a Scatter Plo…

00:51

SALES The following are …

02:48

The table shows the advert…

02:52

Sales The sales of a small…

04:58

A sales manager presented …

02:47

03:21

A company owns two retail …

04:31

A salesperson makes a base…

03:01

A candy store manager want…

03:46

In $9-13 :$ a. Create a sc…

06:21

Bookstore sales revisited …

03:14

SALES The graph shows…

03:28

04:28

02:19

05:28

The table shows the annual…

02:11

03:58

Vehix.com offered several …

04:09

Sales The graph shows annu…

A manager wants to establish a relationship between the sales off the product and the price he has been given this following data where, uh he has values off. Price is in dollars. Prices is represented by X and and the correspondent daily Sales William. Why in units? So for $35 the volume of production Oh, ourselves sorry is 80 units at $14. Okay, they have sales off 75 units at $45. They have 68 units sold to $48. They get 66 sales, and at $50 they have 60 63. So is this the data of 55 points that he has been given in order to establish a relationship between sales and the product on the price? Importantly, we get a fund irrigation line of wise fashion effects party with blood, immigration line and data points. Together, any party will make a conjecture about the number of units that will be sold at a price of $60. Well, so in part A, we have used Mad Lab to calculate the regression line mhm using the given points, and we have obtained the following formula y equals negative. One point 1340 48 to 573 time sex plus 100. Mm. 19 point 84 45 zero Force You were too. 214 and in practice. In reality, we don't need that many number of decimals, but we put it in here as a reference for the calculations. Maybe with three or four decimals would be okay. And this is then the formula for the universal line. In this case in part P uh, we have made the plot of the data points, and the regression line is in Medlab again and we're going Thio, find this graph here to move it down here. So we have in this craft at the reason tow line access. We have pricing dollars, that is X. And in the very cool axis we have, why, which is sales volume in units? And as we see in the result of our A, we have a regression line of negative slope which can be confirmed looking at the graph and we have the points in blue here. 123455 points and we can see that defeat of the regression line is very good for these data points. I'm party. We want to make a conjecture about the volume of sales. When the price of the product is said at $60 there will be more or less the value that may be could come in the table, uh, in the next place, $60. Right and that we obtained. Then you'll wait in the regression line at X equal 60. So you party what we want to do. Is he the lead y of 60? And that is about negative one point one. Okay, okay. 34 here because we're calculating we're going to use a few 1000 miles. Always time 60 which is the value effects. Were using this case to make the conjecture plus 119 point who ate 445 And that's equal to or approximately June 51 point eight. This is zero 16 So because we have 0.8, maybe it's a good approximation. Say 51 52 story so we could say 51 52. But in this case seems to be more reliable to like 52. So we can say that the number of units that will be sold, you know? Yes. On a price off. $6? Uh huh. Is about It's about 52 units. Yeah. So this is the conjecture. We can make you, Cindy regression line, which is blood here and which the formula is given here.

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