Statistics Solutions

[Steps Shown] A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of sales. To verify

Question: A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of sales. To verify this belief, the following data were collected: (20 Points)

Salesperson # of Contacts Sales (000)

1 14 24

2 12 14

3 20 28

4 16 30

5 46 80

6 23 30

7 48 90

8 50 85

9 55 120

10 50 110

  1. Using Excel, create a scatter diagram. Put the independent variable on the X (horizontal) axis and put the dependent variable on the Y (Vertical) axis. Be sure to label the axes .

(b) Determine the regression equation. State what the y intercept is and what the slope of the linear equation is.

Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept -12.201 6.559576 -1.86003 0.099925 -27.3275 2.925382
Contacts 2.194642 0.1755 12.50507 1.56E-06 1.789937 2.599346

which means that the regression equation is

\[Sales=-12.201+2.194642Contacts\]

(c) What is the value of the correlation coefficient, and what is the value of the coefficient of determination?

(d) Does this appear to be a good model? Why or Why not?

Price: $2.99
Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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