|By Math131 (Math131) on Sunday, October 26, 2003 - 12:58 pm: Edit|
The sales manager of a large company selected a random sample of n=10 salespeople and determined for each one of the values of x=years of sales experience and annual sales (in thousands of dollars). A scatter plot of the resulting (x,y) pairs showed a marked linear pattern.
a) Suppose that the sample correlation coefficient is r=.75 and average annual sales is y(mean)=100. If a particular salesperson is 2 stand. Deviations above the mean in terms of experience, what would you predict for that personís annual sales?
b) If a particular person whose sales experience is 1.5 standard deviations below avg. experience is predicted to have an annual sales value that is 1 stand. Dev. Below avg annual sales, what is the value of r?
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