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Linear Regression Analyses

The Skelton Manufacturing company recently did a study of its customers. A random sample of 50 customer accounts was pulled from the computer records.

Two variables were obser4ved:

y = Total dollar volume of business this year
x = Miles customer is from corporate headquaters

The following statistics were computerd:

ŷ = 2,140.23 - 10.12x
sb1 = 3.12

a. Interpret the regression slope coefficient

b. Using a significance level of 0.01, test to determine whether it is true that the farther a business from the corporate headquaters the samller is the total dollar volume of business

Solution Summary

The Skelton Manufacturing company recently did a study of its customers. A random sample of 50 customer accounts was pulled from the computer records.

$2.19