Solutions Statistics

Solution) Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship

Question: Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. The X column indicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for each client sampled.

Number of Sales Number of Sales Contacts, ($ thousands), Contacts, ($ thousands), X Y X Y 14 24 23 30 12 14 48 90 20 28 50 85 16 30 55 120 46 80 50 110

a. Determine the regression equation.

b. Determine the estimated sales if 40 contacts are made.

Price: $2.99

Solution: The solution file consists of 3 pages
Deliverables: Word Document