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Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number...

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Statistics

Mr. James McWhinney, president of Daniel-James FinancialServices, believes there is a relationship between the number ofclient contacts and the dollar amount of sales. To document thisassertion, Mr. McWhinney gathered the following sample information.The x column indicates the number of client contacts last month andthe y column shows the value of sales ($ thousands) last month foreach client sampled.

Number of Contacts,XSales ($ thousands),yNumber of Contacts,xSales ($ thousands),y
14242330
12144890
20285085
163055120
468050110

  1. Determine the regression equation. (Negative valuesshould be indicated by a minus sign. Do not round intermediatecalculations. Round final answers to 2 decimalplaces.)

xy(x−x¯)(y−y¯)(x−x¯)2(y−y¯)2(x−x¯) (y−y¯)
14376.361376.41719.74
1214−21.4−47.1
20−13.4179.56443.54
1630−31.1967.21
4612.6357.21
23−10.4967.21
489028.9213.16421.94
508523.9275.56396.74
55466.563469.211,272.24
50110.016.648.9
x¯=y¯=Sx=
Sy=r=

b. Determine the estimated sales if 40 contacts are made.(Do not round intermediate calculations. Round finalanswers to 2 decimal places.)

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