The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker.  For the last year, the managers sampled 16 brokers and determined the number of new clients they enrolled during that year and their sales amounts in millions of dollars for that year.  This data is presented in the table that follows.  In your answers, sales should be left as a decimal as in the data table.  It is not necessary to multiply by one million dollars. Perform a simple linear regression analysis of this data and answer the following questions.  Suggestion: Read all of the questions before doing any analysis. Broker New Clients Sales 1 27 5.32 2 11 3.44 3 42 7.96 4 33 6.62 5 15 4.06 6 15 3.16 7 25 4.9 8 36 6.84 9 28 5.8 10 30 5.84 11 17 3.56 12 22 4.58 13 18 3.7 14 24 5.34 15 35 6.9 16 40 7.56 (a) Find the simple linear regression equation obtained from this analysis. (b) Find the value of the coefficient of determination. (c) Based on the coefficient of determination, would this equation be useful for predicting annual sales?  Simply type 'yes' or 'no'. (d) Find the value of Syx. I need help with (d)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.4: Scatter Plots And Line Of Fit
Problem 1CYU
icon
Related questions
Question

The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker.  For the last year, the managers sampled 16 brokers and determined the number of new clients they enrolled during that year and their sales amounts in millions of dollars for that year.  This data is presented in the table that follows.  In your answers, sales should be left as a decimal as in the data table.  It is not necessary to multiply by one million dollars.

Perform a simple linear regression analysis of this data and answer the following questions.  Suggestion: Read all of the questions before doing any analysis.

Broker

New Clients

Sales

1

27

5.32

2

11

3.44

3

42

7.96

4

33

6.62

5

15

4.06

6

15

3.16

7

25

4.9

8

36

6.84

9

28

5.8

10

30

5.84

11

17

3.56

12

22

4.58

13

18

3.7

14

24

5.34

15

35

6.9

16

40

7.56

(a) Find the simple linear regression equation obtained from this analysis.
(b) Find the value of the coefficient of determination.
(c) Based on the coefficient of determination, would this equation be useful for predicting annual sales?  Simply type 'yes' or 'no'.
(d) Find the value of Syx.
I need help with (d)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell