a.Develop theconfidence interval for the mean annual sales for all salespersons with three years of experience.

(,) (to 2 decimals)

b.The company is considering hiring Tom Smart, a salesperson with three years of experience. Develop aprediction interval of annual sales for Tom Smart.

(,) (to 2 decimals)

c.Discuss the differences in your answers to parts (a) and (b).

As expected, the prediction interval is much- Select your answer -

wider

narrow

Item 5

than the confidence interval. This is due to the fact that it is more- Select your answer -

difficult

easy

Item 6

to predict annual sales for one new salesperson with 3 years of experience than it is to estimate the mean annual sales for all salespersons with 3 years of experience.

Chrome File Edit View History Bookmarks People Window Help 62% $3. Mon 12:58 PM Q . E . . . MindTap - Cengage Learning https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=573600199412106300145636570&elSBN=9781337115377&id=419926630&snapshotld=1041717& CENGAGE |MINDTAP Q Search this course ? Abigail A CH. 14 HW Part 2 O X A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Years of Annual Sales Salesperson Experience ($1000s) H 80 78 m 77 Ln 76 Un Ln 76 6 96 7 8 113 Co 10 129 11 147 10 13 159 The data on y = annual sales ($1000s) for new customer accounts and = = number of years of experience for a sample of 10 salespersons provided the estimated regression equation y = 53.52 + 7.63x. For these data = = 6.5, (x; - x)2 = 138.50, and s = 11.8625. a. Develop the 90% confidence interval for the mean annual sales for all salespersons with three years of experience. ) (to 2 decimals) b. The company is considering hiring Tom Smart, a salesperson with three years of experience. Develop a 90% prediction interval of annual sales for Tom Smart. ) (to 2 decimals) Co c. Discuss the differences in your answers to parts (a) and (b). As expected, the prediction interval is much - Select your answer - ;) than the confidence interval. This is due to the fact that it is more - Select your answer - :) to predict annual sales for one new salesperson with 3 years of experience than it is to estimate the mean annual sales for all salespersons with 3 years of experience. A-Z V APR W mim -30