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A recent article in Bloomberg Businessweek listed the “Best Small Companies.” We are interested in the...

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Statistics

A recent article in Bloomberg Businessweeklisted the “Best Small Companies.” We are interested in the currentresults of the companies’ sales and earnings. A random sample of 12companies was selected and the sales and earnings, in millions ofdollars, are reported below.

SalesEarningsSalesEarnings
Company($ millions)($ millions)Company($ millions)($ millions)
Papa John’s International$91.25.2Checkmate Electronics$18.52.6
Applied Innovation20.34.6Royal Grip12.81.8
Wall Data19.01.4M-Wave19.83.6
Integracare75.08.2Serving-N-Slide51.88.3
Davidson & Associates60.96.6Daig29.96.5
Chico’s FAS48.24.2Cobra Golf73.212.8

a. Draw a scatter diagram

b.The coefficient of correlation is
c.The regression equation, with thecoefficients, is Å· =+x
d.For a small company with$50 million in sales, an estimate of the earnings is($ millions).

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