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Description of Regression problem

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.

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Solution Summary

This posting contains the solution to the regression problem stated. It is solved using an attached Excel file.

$2.19