Regression Analysis
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I have the scatter diagram. I am confused with (b) and (c).
(See attached file for full problem description)
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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.
(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 4 pages solution shows how to calculate the regression equation and the correlation coefficient from the raw data directly.
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