In the territory versus sales example (based on the data from Table 11.2.3), the least-squares line to
Question:
Expected sales = $1,371,744 +$0:23675045 (Population)
a. Interpret the slope coefficient as a number with a simple and direct business meaning.
b. What proportion of the variation in sales from one agent to another is attributable to territory size? What proportion is due to other factors?
c. Does territory size have a significant impact on sales? How do you know?
d. Find the p-value (as either p > 0.05, p < 0.05, p < 0.01, or p < 0.001) for the significance of the slope coefficient.
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a The slope coefficient tells you that each additional person brings in 0237 or ...View the full answer
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