Sales and Experience the General Manager of a Chain of Department

question 180

Essay

Sales and Experience The general manager of a chain of department stores believes that experience is the most important factor in determining the level of success of a salesperson. To examine this belief she records last month's sales (in $1,000s)and the years of experience of 10 randomly selected salespeople. These data are listed below. (Sales and Experience Narrative} Determine the coefficient of determination and discuss what its value tells you about the two variables.

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Definitions:

Production

The act of producing goods and services by merging workforce, materials, and technology.

Consumers

Individuals or entities that purchase goods or services for personal use or consumption.

Utility

Utility is an economic concept referring to the satisfaction or benefit a consumer receives from consuming a good or service.

Organizational Buyers

Businesses or entities that purchase goods and services for their own use, for production, or for resale to others.