A recent article in Bloomberg Businessweek listed the "Best Small Compa- nies." We are interested in the current results of the companies' sales and earnings. A random sample of 12 companies was selected and the sales and earnings, in millions of dollars, are reported below. Sales Earnings ($ millions) ($ millions) Company Sales Earnings ($ millions) ($ millions) Company Papa John's International Applied Innovation Integracare $89.2 $4.9 Checkmate Electronics $17.5 $ 2.6 18.6 4.4 Royal Grip 11.9 1.7 18.2 1.3 M-Wave 19.6 3.5 Wall Data 71.7 Serving-N-Slide Daig 8.0 51.2 8.2 Davidson & Associates 58.6 6.6 28.6 6.0 Chico's FAS 46.8 4.1 Cobra Golf 69.2 12.8 a. Draw a scatter diagram. b. Compute the correlation coefficient. c. Determine the regression equation. d. For a small company with $50.0 million in sales, estimate the earnings.
A recent article in Bloomberg Businessweek listed the "Best Small Compa- nies." We are interested in the current results of the companies' sales and earnings. A random sample of 12 companies was selected and the sales and earnings, in millions of dollars, are reported below. Sales Earnings ($ millions) ($ millions) Company Sales Earnings ($ millions) ($ millions) Company Papa John's International Applied Innovation Integracare $89.2 $4.9 Checkmate Electronics $17.5 $ 2.6 18.6 4.4 Royal Grip 11.9 1.7 18.2 1.3 M-Wave 19.6 3.5 Wall Data 71.7 Serving-N-Slide Daig 8.0 51.2 8.2 Davidson & Associates 58.6 6.6 28.6 6.0 Chico's FAS 46.8 4.1 Cobra Golf 69.2 12.8 a. Draw a scatter diagram. b. Compute the correlation coefficient. c. Determine the regression equation. d. For a small company with $50.0 million in sales, estimate the earnings.
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
Transcribed Image Text:A recent article in Bloomberg Businessweek listed the "Best Small Compa-
nies." We are interested in the current results of the companies' sales and earnings.
A random sample of 12 companies was selected and the sales and earnings, in
millions of dollars, are reported below.
Sales
Earnings
($ millions) ($ millions) Company
Earnings
($ millions) ($ millions)
Sales
Company
Papa John's International
Applied Innovation
Integracare
$89.2
$4.9
Checkmate Electronics
$17.5
$ 2.6
18.6
4.4
Royal Grip
11.9
1.7
18.2
1.3
M-Wave
19.6
3.5
Wall Data
71.7
8.0
Serving-N-Slide
Daig
Cobra Golf
51.2
8.2
Davidson & Associates
58.6
6.6
28.6
6.0
Chico's FAS
46.8
4.1
69.2
12.8
a. Draw a scatter diagram.
b. Compute the correlation coefficient.
c. Determine the regression equation.
d. For a small company with $50.0 million in sales, estimate the earnings.
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