Question

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 ($ thousands) last month for each client sampled.

Number of Contacts,X		Sales ($ thousands),y		Number of Contacts,x		Sales ($ thousands),y
14		24		23		30
12		14		48		90
20		28		50		85
16		30		55		120
46		80		50		110

1. Determine the regression equation. (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round final answers to 2 decimal places.)

x				y				(x−x¯)				(y−y¯)				(x−x¯)2				(y−y¯)2				(x−x¯) (y−y¯)
	14																376.36				1376.41				719.74
	12				14				−21.4				−47.1
	20								−13.4								179.56								443.54
	16				30								−31.1								967.21
	46								12.6												357.21
	23								−10.4												967.21
	48				90								28.9				213.16								421.94
	50				85								23.9				275.56								396.74
	55																466.56				3469.21				1,272.24
	50				110.0				16.6				48.9

x¯

=

y¯

=

Sx

=

Sy

=

r

=

b. Determine the estimated sales if 40 contacts are made. (Do not round intermediate calculations. Round final answers to 2 decimal places.)

Answer 1

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