Question: Correlation and Regression Analysis:
The owner of a financial services firm believes that there is a relationship between the number of client contacts and the dollar amount of sales. He gathered the following sample information. The X column indicates the number of client contact last month, and the Y column shows the value of sales ($ thousand) last month for each client sampled
|
Number of Contacts (X)
|
Sales ($ thousand)(Y)
|
|
|
|
|
14
|
24
|
|
|
|
|
12
|
14
|
|
|
|
|
20
|
28
|
|
|
|
|
16
|
30
|
|
|
|
|
46
|
80
|
|
|
|
|
23
|
30
|
|
|
|
|
48
|
90
|
|
|
|
|
50
|
85
|
|
|
|
|
55
|
120
|
|
|
|
|
50
|
110
|
|
|
|
Find the coefficient of correlation:
Find the coefficient of determination and non-determination.:
Find the regression equation (Y=a + bX):
Determine the estimated sales if 37 contacts are made.