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A recent article inBloombergBusinessweeklisted the Best Small Companies. We are interested in the current results of the companies sales and earnings. A random sample of
A recent article inBloombergBusinessweeklisted 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. |
Company | Sales ($ millions) | Earnings ($ millions) | Company | Sales ($ millions) | Earnings ($ millions) | ||||||||
Papa John's International | $ | 87.4 | $ | 4.9 | Checkmate Electronics | $ | 17.5 | $ | 2.6 | ||||
Applied Innovation | 18.6 | 4.4 | Royal Grip | 9.8 | 1.7 | ||||||||
Integracare | 17.4 | 1.3 | M-Wave | 19.6 | 3.5 | ||||||||
Wall Data | 71.7 | 8.0 | Serving-N-Slide | 53.7 | 8.2 | ||||||||
Davidson & Associates | 58.6 | 6.6 | Daig | 28.6 | 6.0 | ||||||||
Chico'sFAS | 47.3 | 4.1 | Cobra Golf | 69.2 | 12.8 |
Let sales be the independent variable and earnings be the dependent variable.(Round your answers to 3 decimal places.) |
a. | The coefficient of correlation is. |
b. | The coefficient of determination is. |
c. | The regression equation, with thecoefficients, isY'=+X |
d. | For asmall companywith $54 million in sales, an estimate ofthe earnings is($ millions). |
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