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    Least Squares Regression Line -Explained Two methods

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    Question (1)
    Mr. James Mc Whinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and dollar amount of sales. To document this assertion, Mr. Mc Whinney 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.

    Table is given in the attached file.

    1.Determine the regression equation.
    Determine the estimated sales if 40 contacts are made.

    Question(2):
    The following table lists the annual amounts of glass cullet produced by Kimble Glass Works, Inc

    Table is given in the attached file.
    Determine the least squares trend equation. Estimate the amount of scrap for the year 2005.

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    https://brainmass.com/statistics/regression-analysis/least-squares-regression-line-explained-two-methods-97196

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    Solution Preview

    The step by step solutions to the two problems are given in MS Word Document attachment file in easy to understand language using two different methods so that the students could adopt which ever they ...

    Solution Summary

    This solution is comprised of detailed explanation of finding Regression Line which is also called Predicting Line, and in some books it is referred to as Least-Squares Regression. Two problems are solved step by step with each detail using two different methods for each problem. The information included in MS Word attachment file comprised of 5 full pages with minute detail. The standard formulas are given with standard notations and are used in the solution of the problems in such a way that the students can solve any other similar problem independently after reviewing these solutions. The solutions are original and do not contain links to other material.

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