Question
We wish to look at the relationship between sales experience (in years) and annual sales (in...
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, Σxi=70, Σx2i=896, Σyi=77, Σy2i=949, and Σxiyi=907 Find the correlation.
Homework Answers
Answer #1
Given n= 7 , 
,
,
,
,
Correlation (r)= ?
r= Cov(x,y)/6x 6y
Xbar= 
= 70/7 =
10
Ybar= 
= 77/7 =
11
6x2= 
= 896/7-(10)^2= 28
6x=√28= 5.2915
6y2=
=
949/7 - (11)^2 = 14.5714
6y= √14.5714= 3.8172
Cov(x,y)= 
= 907/7 - (10)(11) = 19.5714
r= Cov(x,y)/6x6y
= 19.5714/(5.2915 * 3.8172)
= 0.9689
Correlation= 0.9689
r>0 positive ly correlation.
Not the answer you're looking for?
Similar Questions
We wish to look at the relationship between y and x. Summary measures are given below:...
We wish to look at the relationship between y and x. Summary
measures are given below: n=5, xbar=9.4, ybar=17.2, SSxx=137.2,
SSyy=242.8, and SSxy=-169.4 Find the t test statistic for the
hypothesis H0: β1=0 vs Ha: β1≠0.
3. A sales manager collected the following data on annual sales and years of experience. Salesperson...
3. A sales manager collected the following data on
annual sales and years of experience.
Salesperson Years of Experience Annual Sales ($000s)
1 1 132
2 3 160
3 4 145
4 5 168
5 6 168
6 8 180
7 10 188
8 11 218
9 11 193
10 13 229
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...
1) Let's say that we use 16 mice in a study that seeks a relationship between...
1)
Let's say that we use 16 mice in a study that seeks a
relationship between the concentration (x) of a toxic substance and
the mortality time of mice (y), and the findings given in the table
below are obtained. Is there a relationship between concentration
and death time? What is the direction and strength of the
relationship? Find it with correlation
analysis.
Concentration (microgram)
Death time (minutes)
20
20
25
18
30
18
35
16
40
17
45
16...
A sales manager collected data on annual sales for new customer accounts and the number of...
A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Open spreadsheet
Compute b1 and b0 (to 1
decimal).
b1 =
b0 =...
Annual income of staff of DebMarine (in thousands of dollars) and years their years of experience....
Annual income of staff of DebMarine (in thousands of dollars)
and years their years of experience. A
random sample of DebMarine staff Annual income and years of
experience are as follows.
Years of education (x) 3 3 5 7 5 10 7 15 7 10 5 15 5
Annual Income (000s) (y) 17 15 20 30 23 40 27 45 31 43 27 50
25
a. Which variable is the dependent variable? [2]
b. Determine the least squares estimated regression...
A sales manager collected data on annual sales for new customer accounts and the number of...
A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Salesperson
Years of Experience
Annual Sales ($1000s)
1
1
84
2
4
93...
Using the “Experience and Income.xlsx” file, determine the sample correlation coefficient between the annual salary and...
Using the “Experience and Income.xlsx” file, determine the
sample correlation coefficient between the annual salary and the
job market experience variables. You must submit your actual Excel
file with the output as part of the assignment. Annual Salary 1
Years of Job Market Experience 0.121452784 1 Part (b) (2 points)
Interpret the sample correlation coefficient you found in part (a).
Part (c) (2 points) If we regressed income on experience, what
share of the variation in income could be explained...
Salesperson Years of Experience Annual Sales ($1000s) 1 1 85 2 4 100 3 4 91...
Salesperson
Years of Experience
Annual Sales ($1000s)
1
1
85
2
4
100
3
4
91
4
4
97
5
6
107
6
9
109
7
10
118
8
11
126
9
10
113
10
14
132
Compute b1 and b0 (to 1
decimal).
b1 =
b0 =
Complete the estimated regression equation (to 1 decimal).
y = ... + x
According to this model, what is the change in annual sales
($1000s) for every year of experience (to 1...
A sales manager collected the following data on x = years of experience and y =...
A sales manager collected the following data on x =
years of experience and y = annual sales ($1,000s). The
estimated regression equation for these data is
ŷ = 80 + 4x.
Salesperson
Years of
Experience
Annual Sales
($1,000s)
1
1
80
2
3
97
3
4
92
4
4
107
5
6
103
6
8
101
7
10
119
8
10
118
9
11
127
10
13
136
A. Compute SST, SSR, and SSE.
B. Compute the coefficient of...
A manager wishes to determine the relationship between the number of years the manager's sales representatives...
A manager wishes to determine the relationship between the
number of years the manager's sales representatives have been with
the company and their average monthly sales (in thousands of
dollars). Calculate the linear correlation coefficient.
Years with company, x Sales, y
5 34
6 36
13 81
10 65
11 68
18 64
6 51
4 58
14 123
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 6 minutes ago
asked 11 minutes ago
asked 34 minutes ago
asked 38 minutes ago
asked 54 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago