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Best Small Companies - Stats

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A recent article in Business Week list the "Best Small Companies." We are interested in the current results of the companies' sales and earnings. A random sample of 12 companies was selected and the sales and earnings, in millions of dollars, are reported below:

(see attached)

Let sales be the independent variable and earrings be the dependent variable.

a. Draw a scatter diagram.
b. Compute the coefficient of correlation
c. Compute the coefficient of determination.
d. Interpret your findings in parts b and c.
e. Determine the regression equation.
f. For a small company with $50.0 million in sales, estimate the earnings.

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Solution Summary

This solution addresses 6 related statistics questions. Topics include scatter diagram, coefficient of correlation, coefficient of determination, and a regression equation

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