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Multiple Regression Analysis

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Car dealership chain owner wants to increase the car sales of his chain. He wants to determine which factors influence the sales performance. Owner thinks that the following factors have a significant impact on sales performance:

X1 = number of years of experience as a car sales person

X2 = age

Sales performance is measured as number of cars sold per year Y.

Owner selects twenty sales associates at random. Their past sales performance, number of years of experience, and age were retrieved from dealership records. Owner hires a statistician who enters the data into statistical software package and the following equation is obtained:

Y' = 9.606 + 1.998X1 + 0.222X2

A. How is this equation called?

B. How many independent variables are there in this equation? How many dependent variables?

C. What is the number 1.998 called?

D. As number of years of experience (X1) increases for one year, how much will estimated number of cars sold per year increase.

E. Michael Pendergrass applied for a sales associate position. He has been a car salesman for ten years and he is 37 years old. Estimate annual numbers of cars per year Michael would sell if he was hired.

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The solution gives interpretations of regression analysis results.

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