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Posted: March 17th, 2023
A manager of a product sales group believes the number of sales made by an employee (Y) depends on how many years that employee has been with the company (X1) and how he/she scored on a business aptitude test (X2). A random sample of 8 employees provides the following:
What is the value of the intercept?
What is the estimated coefficient for the variable representing the years an employee has been with the company (b1)?
What is the estimated coefficient for the variable representing scores on the aptitude test (b2)?
What is the amount of error incurred by using the regression to predict sales?
What is the variation in sales explained by years and score corrected for the number of variables and the sample size?
If an employee who had been with the company 5 years scored a 9 on the aptitude test, what would his estimated expected sales be?
Generally, we can claim with 95% confidence that sales persons who have been with company for 5 years and who score 9 on the aptitude test will have sales between
What p value results from the test whether there is a linear relationship between all the X values taken together and Y?
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