Regression Equation
1. Given the number of contacts and sales made by a company over two months, compare the numbers each month and determine the regression equation and the estimated sales if 40 contacts are made. Also, determine the standard of error estimate ...
*(Please see attachment for complete problem and problem #2)
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Solution Preview
See attachment please.
Using Excel, we get the following table.
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.975362
R Square 0.951331
Adjusted R Square 0.945248
Standard Error 9.310446
Observations 10
ANOVA
df SS MS F Significance F
Regression 1 13555.42 13555.42 156.3768 1.56E-06
Residual 8 693.4752 86.6844
Total 9 14248.9
Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept -12.201 6.559576 -1.86003 0.099925 -27.3275 2.925382 -27.3275 2.925382
X Variable ...
Solution Summary
1. Given the number of contacts and sales made by a company over two months, compare the numbers each month and determine the regression equation and the estimated sales if 40 contacts are made. Also, determine the standard of error estimate ...