In the territory versus sales example (based on the data from Table 11.2.3), the least-squares line to predict sales based on the population of the territory was found to be 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. 

e. Find the actual p-value for the significance of the slope coefficient, using statistical software, and use it to verify your answer to part d. 

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TABLE 11.2.3 Territory and Performance of Salespeople Sales Territory (Population Size) Territory Sales (Past Year) ($) (Past Year) ($) (Population Size) 13,683,663 Clara 2,687,224 5,149,127 Anson 4,956,512 Ashley 2,024,809 8,256,603 3,543,166 3,580,058 Brittany Jonathan 9,095,310 3,320,214 lan 2,775,820 1,711,720 12,250,809 Bonnie 3,260,464 Rod 4,637,015 3,542,722 Nicholas 4,735,498 2,251,482