The manager of a bookstore wants to predict Sales (in thousands of dollars) from
ID: 3049420 • Letter: T
Question
The manager of a bookstore wants to predict Sales (in thousands of dollars) from Number of Sales People Working. The accompanying table gives the residuals for a regression of Sales on Number of Sales People Working for the bookstore. Complete parts a through c below. Click the icon to view the residuals. . Residuals of Sales on Number of Sales People Workm a) What are the units of the residuals? The residuals are in terms of b) Which residual contributes the most to the sum that was minimized according to the least squares criterion to find this regression? The residual that ntributes the most to the sum isType an integer or a decimal.) c) Which residual contributes the least to the sum that was minimized according to the least squares criterion to find this regression? The residual that contributes the least to the sum is (Type an integer or a decimal.) Number of Sales People Working Residual 0.07 -0.51 2.66 0.67 0.11 -0.85 0.21 1.04 10 16 17 20 PrintDone Enter your answer in each of the answer boxes.Explanation / Answer
a. The residuals are in terms of thousands of dollars.
b. The residual that contributes the most is the one with the highest magnitude = 2.66
c. The residual that contributes the least is the one with the lowest magnitude = 0.07
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