Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A recent article in Business Magazine listed the Best Small Companies. We are interested in the current results of the companies' sales and earnings. A

image text in transcribed
A recent article in Business Magazine listed the "Best Small Companies." We are interested in the current results of the companies' sales and earnings. A random sample of 12 companies was selected and the sales and earnings, in millions of dollars, are reported below. Sales Earnings Sales Earnings Company ($ millions) ($ millions) Company ($ millions) ($ millions) A $86.2 $5 G $17.1 $2.6 B 19.4 4.4 H 13.3 1.7 C 18.5 1.3 16.2 3.6 D 70.2 7.9 J 54.8 8.3 E 55.1 6.5 K 29.2 6.1 F 46.1 4.2 L 67.4 10 a. Conduct a test of hypothesis to show whether there is a relationship between sales and earnings. Show that the slope of the regression is different from zero. b. Determine the coefficient of determination. Interpret this value. c. Determine the standard error of estimate. About 95 percent of the residuals will between what two values

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ordinary Differential Equations

Authors: William A Adkins, Mark G Davidson

1st Edition

1461436184, 9781461436188

More Books

Students also viewed these Mathematics questions

Question

3. It is the commitment you show that is the deciding factor.

Answered: 1 week ago