A Car Sales Manager Has Collected the Following Data on the Number

question 31

Essay

A car sales manager has collected the following data on the number of cars sold per week and years of experience for 7 of his salespeople.
$$\begin{array} { c l } \text { Cars Sold/Week } & \text { Years of Experience } \\3 & 1.5 \\7 & 4 \\5 & 3 \\10 & 12 \\8 & 10 \\6 & 4 \\4 & 3.5\end{array}$$
a.Develop a regression model to predict sales based on years of experience.
b.Use the estimated regression model to predict sales for a salesperson with 7 years of experience.

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Definitions:

Competitive Substitutes

Alternative products or services that can replace or serve as substitutes for another in satisfying consumer needs or desires.

Organization Principles

Fundamental guidelines or rules that dictate how an organization is structured and operates to achieve efficiency and goal attainment.

Quality

The extent to which a service or product satisfies or goes beyond what customers hope for.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage.