A Manager Wishes to Determine the Relationship Between the Number

question 50

Multiple Choice

A manager wishes to determine the relationship between the number of years her sales representatives havebeen employed by the firm and their amount of sales (in thousands of dollars) per month. Find the equation ofthe regression line for the given data. What would be the predicted sales if the sales representative wasemployed by the firm for 30 years Is this reasonable? Why or why not? Round the regression line values to thenearest hundredth. $\begin{array}{l|c|c|c|c|c|c|c|c|c|}\text { Years employed, } \mathrm{x} & 2 & 3 & 10 & 7 & 8 & 15 & 3 & 1 & 11 \\\hline \text { Sales, } \mathrm{y} & 31 & 33 & 78 & 62 & 65 & 61 & 48 & 55 & 120\end{array}$

• A) \(\hat { y } = 3.53 \mathrm { x } + 37.92 ; \$ 143,820\); No; it is not reasonable. 30 years of employment is well outside the scope of the model.
• B) \(\hat { y } = 3.53 \mathrm { x } + 37.92 ; \$ 143,820 ;\) Yes, it is reasonable.
• C) \(\hat { y } = 3.53 \mathrm { x } - 37.92 ; \$ 67,980 ; \mathrm { No }\); it is not reasonable. 30 years of employment is well outside the scope of the model.
• D) \(\hat { y } = 3.53 \mathrm { x } - 37.92 ; \$ 67,980\); Yes; it is reasonable.

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Definitions:

Government Activity

Actions taken by a government to influence its country's economy, including policies and programs.

Voluntary Exchange

An economic transaction where both parties agree to trade goods or services by mutual consent without coercion.

Tax Revenue

The income that the government receives from taxation of individuals and businesses.

Federal Government

The national government of a federal state, which holds sovereignty over broad aspects of governance, such as defense, foreign affairs, and monetary policy.