Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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.
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 (in thousands $) last month for each client sampled.
Number of Contacts (X) | Sales (in thousands $) Y |
14 | 24 |
12 | 14 |
20 | 28 |
16 | 30 |
46 | 80 |
23 | 30 |
48 | 90 |
50 | 85 |
55 | 120 |
50 | 110 |
- Identify the regression equation below :
a. Sales = -12.2 + 2.19(Contacts)
b. Sales = 2.19 - 12.2(Contacts)
c. Sales = 6.56 + 0.176(Contacts)
d. None of the above
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started