Ravencheck Resources, Inc. is a brokerage of ten salespeople. A productivity survey of the firm's employees indicated the following data:
Sales Representative Number of units Sold Number of Sales Calls
A 28 14
B 66 35
C 38 22
D 70 29
E 22 6
F 27 15
G 28 17
H 47 20
I 14 12
J 68 29
Use the information from the survey. Assume that "number of sales calls" is the independent variable, and draw a scatter diagram of number of sales calls and number of units sold. Estimate a simple linear regression model to explain the relationship between number of sales calls and number of units sold. Calculate and interpret the coefficient of correlation, the coefficient of determination, and the standard error of estimate. Conduct a test of hypothesis to determine whether the coefficient of correlation in the population is zero. Construct and interpret confidence intervals and prediction intervals for the dependent variable, number of units sold.
1. Assigns a Random Variable x
2. Describes the Distribution
3. Calculates the Probability of Exactly 28 Sales
4. Calculates the Probability of Less Than 28 Sales
5. Calculates the Probability of 28 or More Sales