Statistics Solutions

[Steps Shown] Dorothy Kelly sells life insurance for the Prudence insurance Company. She sells insurance by making visits to her clients' homes. Dorothy

Question: Dorothy Kelly sells life insurance for the Prudence insurance Company. She sells insurance by making visits to her clients' homes. Dorothy believes that the number of sales should depend to some degree on the number of visits made. For the past several years she kept careful records of the number of visits (x) she made each week and the number of people (y) who bought insurance that week. For a random sample 01°14 such weeks, the x and y values follows:

X Y
11 3
19 9
16 8
13 5
28 12
5 1
20 5
14 6
22 10
7 3
15 5
29 10
8 6
25 11

Use Tl-Calculator to answer:

  1. Find the correlation coefficient and the coefficient of determination. Interpret both measures in terms of the problem. Is r significant?
  2. Find the mean of x, the mean of y and the equation of the line of regression and its range of validity.
  3. On a week in which Dorothy made 20 visits, how many people would you predict would buy insurance from her?
  4. State the r-squared value and interpret its meaning relevant to this problem

Price: $2.99
Solution: The downloadable solution consists of 5 pages
Deliverable: Word Document


∴ Other downloads you may be interested in ∴

log in to your account

Forgot password?
Don't have a membership account?
REGISTER

reset password

Back to
log in

sign up

Back to
log in