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    Finding regression line by using Excel

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    A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of sales. To verify this belief, the following data were collected:

    Salesperson # of Contacts Sales (000)
    1 14 24
    2 12 14
    3 20 28
    4 16 30
    5 46 80
    6 23 30
    7 48 90
    8 50 85
    9 55 120
    10 50 110

    (a) Create a scatter diagram. Put the independent variable on the X (horizontal) axis and put the dependent variable on the Y (Vertical) axis. Be sure to label the axes.

    (b) Determine the regression equation. State what the y intercept is and what the slope of the linear equation is. Does this appear to be a good model?

    c) What is the value of the correlation coefficient, and what is the value of the coefficient of determination?

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    Solution Summary

    The solution contains detailed explanation of finding simple linear regression line by using Excel.