Given Below Are Seven Observations Collected in a Regression Study $$\begin{array} { l l } x & y \\\hline 2 & 12 \\3 & 9 \\6 & 8 \\7 & 7 \\8 & 6 \\7 & 5 \\9 & 2\end{array}$$

question 23

Essay

Given below are seven observations collected in a regression study on two variables, x (independent variable) and y (dependent variable). Use Excel's Regression tool to construct a residual plot and use it to determine if any model assumptions have been violated. $$\begin{array} { l l } x & y \\\hline 2 & 12 \\3 & 9 \\6 & 8 \\7 & 7 \\8 & 6 \\7 & 5 \\9 & 2\end{array}$$

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Definitions:

Customer Service

All of the activities a firm engages in to satisfy the needs and wants of its customers.

Trial Close

A sales technique where the salesperson asks the prospect a question or series of questions to gauge the prospect's readiness to buy.

Buyer's Readiness

The stages a potential customer goes through before deciding to purchase a product, including awareness, knowledge, liking, preference, conviction, and purchase.

Team Selling

A sales strategy where a group of individuals with different expertise collaborates to sell a product or service to better meet customer needs.