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    Daniel-James Financial Services:Linear Regression analysis

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

    a. Determine the standard error of estimate.
    b. Suppose a large sample is selected (instead of just 10). About 95 percent of the predictions regarding sales would occur between what two values?

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