Assignment:
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.
|
|
|
|
|
# of contacts, X
|
Sales ($ thousands), Y
|
|
# of conacts, X
|
Sales ($ thousands), Y
|
|
14
|
24
|
|
23
|
30
|
|
12
|
14
|
|
48
|
90
|
|
20
|
28
|
|
50
|
85
|
|
16
|
30
|
|
55
|
120
|
|
46
|
80
|
|
50
|
110
|
a. Determine the regression equation.
b. Determine the estimated sales if 40 contacts are made.