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.
1. Determine the regression equation.
2. Determine the estimated sales if 40 contacts are made.
This posting contains the solution to the regression problem stated. It is solved using an attached Excel file.