The Skelton Manufacturing Company recently did a study of its customers. A random sample of 50 customer

Question:

The Skelton Manufacturing Company recently did a study of its customers. A random sample of 50 customer accounts was pulled from the computer records. Two variables were observed:
y = Total doll volume of business this year
x = Miles customer is from corporate headquarters
The following statistics were computed:

image text in transcribed
a. Interpret the regression slope coefficient.
b. Using a significance level of 0.01, test to determine whether it is true that the farther a customer is from the corporate headquarters, the smaller the total dollar volume of business.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Statistics A Decision Making Approach

ISBN: 9780133021844

9th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry

Question Posted: