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A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Years of Annual Sales Experience ($1,000s) 1 Salesperson ales ($1,000 1 120 110 100 2 3 4 5 6 7 9 10 3 . 4 4 6 8 10 10 11 13 80 97 92 102 103 111 119 123 (a) Develop a scatter diagram for these data with years of experience as the independent variable. 150- 150 140- 140- 130 130 120 110 100 117 136 ales ($1,000) Sales ($1,000) 150 140 130 120 110- 100
(a) Develop a scatter diagram for these data with years of experience as the independent variable. 150 T 140 130- 120 110- 100 90 80 70- 60 Annual Sales ($1,000) O 150 140 130- Annual Sales ($1,000) 120 110- 100- 90 80 70 60 9- 150 140 130 120 110 100 90 80 70- 60- 2 2 4 6 8 Years of Experience 10 12 14 10 12 14 4 6 8 Years of Experience 60 Ⓡ . 2 468 10 12 14 Years of Experience @O (b) Develop an estimated regression equation that can be used to predict annual sales (in $1,000s) given the years of experience. 150 140 130 120 110 100- 90- 80 70 60- . 2 4 6 8 10 12 Years of Experience 14 G
Tears Of Laperience (b) Develop an estimated regression equation that can be used to predict annual sales (in $1,000s) given the years of experience. 9= (c) Use the estimated regression equation to predict annual sales (in $1,000s) for a salesperson with 9 years of experience. $ thousand