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You Run a Used Car Dealership and Want to Know

question 7

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 Weekly  compensation  Monthly  sales 54533604416286338220267185707256349389425676552850\begin{array}{|c|c|}\hline \begin{array}{c}\text { Weekly } \\\text { compensation }\end{array} & \begin{array}{c}\text { Monthly } \\\text { sales }\end{array} \\\hline 545 & 33 \\\hline 604 & 41 \\\hline 628 & 63 \\\hline 382 & 20 \\\hline 267 & 18 \\\hline 570 & 72 \\\hline 563 & 49 \\\hline 389 & 42 \\\hline 567 & 65 \\\hline 528 & 50 \\\hline\end{array} You run a used car dealership and want to know if you are appropriately compensating your sales force, so you collect weekly compensation rates and counts of monthly sales with the intent of comparing them.
1)What is the research question?
2)What are the hypotheses?
3)What are the degrees of freedom for the statistical significance test?
4)What is the critical value for this test?
5)State the formal results of the test.
6)Should you compute a coefficient of determination? How do you know? If so, calculate it.
7)Regress sales on compensation, and report the formula for the regression line here.
8)State all appropriate conclusions.
9)If a salesperson was compensated 450, what would we expect sales to be?

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Definitions:

Background Information

Provides context and necessary details for understanding the main content or subject matter.

Extrinsic Motivator

An external reward or incentive, such as money or recognition, that motivates individuals to perform a task.

Getting Promoted

The action of being elevated to a higher rank or position within an organization, typically as recognition for performance or potential.

Appraisal

The process of evaluating the performance, value, or condition of something, often for the purposes of making decisions based on its status.

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