A large international sales organization has collected data on the number of employees and the annual gross sales during the last 7 years.
(a)Develop a scatter diagram.
(b)Determine the correlation coefficient.
(c)Determine the coefficient of determination.
(d)Determine the least squares trend line.
(e)Determine the predicted value of sales for 2100 employees.
Definitions:
Instrument
An instrument is a tool or device, especially one used for precise work or scientific measurement.
Alternative
Another option or choice available to parties in a situation, often considered when the primary option is not feasible or desirable.
Joint Payee
Involves two or more parties being named on a financial instrument or payment, requiring endorsement or agreement from all named before processing.
Suspended
Temporarily halted or stopped, often with the possibility of being resumed in the future.
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