A Company Keeps Extensive Records on Its New Salespeople on the Premise

question 20

Essay

A company keeps extensive records on its new salespeople on the premise that sales should increase with experience. A random sample of seven new salespeople produced the data on experience and sales shown in the table. $\begin{array}{c|c}\text { Months on Job } & \begin{array}{c}\text { Monthly Sales } \\\text { (\$ thousands) }\end{array} \\\hline 2 & 2.4 \\4 & 7.0 \\8 & 11.3 \\12 & 15.0 \\1 & .8 \\5 & 3.7 \\9 & 12.0\end{array}$

Stumary statistics yield $S S _ { x x } = 94.8571 , S S _ { x y } = 124.7571 , S S _ { y y } = 176.5171 , \bar { x } = 5.8571$ , and $\bar { y } = 7.4571$ . Using $S S E = 12.435$ , find and interpret the coefficient of determination.

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Definitions:

British Pound

The official currency of the United Kingdom, also known historically as sterling, which is one of the world's oldest currencies still in use.

Panama Canal

A man-made waterway that connects the Atlantic and Pacific Oceans across the Isthmus of Panama, significantly reducing the maritime journey time between the east and west coasts of the Americas.

Military Intervention

The act of a nation deploying its armed forces into another sovereign country for the purpose of influencing its affairs or securing its interests.

Voyage Length

The duration or distance covered by a journey, particularly by sea or space.