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 samples
a. Determine the regression equation.
b. Determine the estimated sales if 40 contacts are made.
See attached for detailed solution
Use Excel, we get the attached table. We get the ...
In this solution, the expert creates an excel table (shown) to determine the regression equation of a case study. The expert also shows how to find the estimated sales when changing the variable of product being produced.