Assuming a linear relationship between sales and years of

Question

The manager of a store believes that experience is the most ho factor in determining the level of success of a salesperson. To examine this belief, he records last month's sales and the years of experience of 10 randomly selected salesperson. Data are listed as follows:

REQUIRED:
a) Assuming a linear relationship between sales and years of experience f a salesperson, asc the least-squares method to find the regression coefficients. b₀ and b₁.

b) Interpret the regression coefficients. b₀ and b₁.

c) Predict sales if a salesperson with 10 years of experience.