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 idnicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for each client. Number of Contacts (X)- 14, 12, 20, 16, 46, 23, 48, 50, 55, 50 Sales ($thousands)- 24, 14, 28, 30, 80, 30, 90, 85, 120, 110 X X- y Xy 14 196 24 576 336 12 144 14 196 168 20 100 28 784 560 16 256 30 900 480 46 2116 80 6400 3680 23 529 30 900 690 48 2304 90 3100 4320 50 2500 85 7225 4250 55 3025 120 14400 6600 50 2500 110 12100 6500 Average 33.4 61.1 Sum 334 13970 611 51581 26584 a. Determine the regression equation y = by + bx SS xy b, = - b = y-bx Say = [ xy _2x)(Ly) = 26584- (334)(611) 10 = 6176.6