Question: 36. Sales Performance. In exercise 7, the data on y = annual sales ($1000s) for new customer accounts and x = number of years of

36. Sales Performance. In exercise 7, the data on y = annual sales ($1000s) for new customer accounts and x = number of years of experience for a sample of 10 salespersons provided the estimated regression equation yˆ = 80 + 4x. For these data x = 7, o(xi − x)2 = 142, and s = 4.6098.

a. Develop a 95% confidence interval for the mean annual sales for all salespersons with nine years of experience.

b. The company is considering hiring Tom Smart, a salesperson with nine years of experience. Develop a 95% prediction interval of annual sales for Tom Smart.

c. Discuss the differences in your answers to parts

(a) and (b).

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