Regression
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The regression equation is number of invoices per month = 138 + 0.000087 amount of sales
Predictor Coef SE Coef T P
Constant 137.78 31.61 4.36 0.001
S= 10.7058 R-Sq=82.4% R-Sq(adj) = 80.7%
Regression 1 5380.5 5380.5 46.95 0.000
Residual error 10 1146.1 114.6
Total 11 6526.7
AMOUNT OF SALES NUMBER OF INVOICES PER MONTH
2529436.37 372
2541268.67 368
2136722.9 328
2886620.67 389
2617799.32 347
2541457.54 362
2574591.31 365
2146129.28 322
2622806 346
2476589.98 356
2699229.26 378
If you can use graphs or whatever in an effort to help me understand the regression analysis.
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Solution Summary
Regression equations for the number of invoices per month are determined. A graph is used to understand the regression analysis. The solution answers the question(s) below.
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Please see the attached document.
Can you please help me interpret and predict what the sales are going to look like in upcoming months based on a regression analysis?
This is the information that I have and need to figure out as I was asked to interpret and predict.
The regression equation is number of invoices per month = 138 + 0.000087
amount of sales
Predictor Coef SE Coef T P
Constant 137.78 31.61 4.36 0.001
S= 10.7058 R-Sq=82.4% R-Sq(adj) = 80.7%
Regression 1 5380.5 5380.5 46.95 0.000
Residual error 10 1146.1 114.6
Total 11 6526.7
AMOUNT OF SALES NUMBER OF INVOICES PER MONTH
X Y
2529436.37 ...
Education
- BSc , Wuhan Univ. China
- MA, Shandong Univ.
Recent Feedback
- "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
- "excellent work"
- "Thank you so much for all of your help!!! I will be posting another assignment. Please let me know (once posted), if the credits I'm offering is enough or you ! Thanks again!"
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