Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. The X column indicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for each client sampled. (Round the final answers to 2 decimal places.) Number of Sales Number of Sales Contacts, ($ thousands), Contacts, ($ thousands), Y Y 33 $41 12 $23 40 70 42 69 50 99 34 50 14 33 47 123 42 67 21 28 a. Determine the standard error of estimate. b. Suppose a large sample is selected (instead of just 10). About 95% of the predictions regarding sales would occur between what two values? Assuming that the Standard Error of Estimate does not change. Use z= 2.
Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. The X column indicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for each client sampled. (Round the final answers to 2 decimal places.) Number of Sales Number of Sales Contacts, ($ thousands), Contacts, ($ thousands), Y Y 33 $41 12 $23 40 70 42 69 50 99 34 50 14 33 47 123 42 67 21 28 a. Determine the standard error of estimate. b. Suppose a large sample is selected (instead of just 10). About 95% of the predictions regarding sales would occur between what two values? Assuming that the Standard Error of Estimate does not change. Use z= 2.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client
contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. The X
column indicates the number of client contacts last month, and the Y column shows the value of sales ($ thousands) last month for
each client sampled. (Round the final answers to 2 decimal places.)
Number of
Sales
Number of
Sales
Contacts,
($ thousands),
Contacts,
($ thousands),
Y
33
$41
12
$23
40
70
42
69
50
99
34
50
14
33
47
123
42
67
21
28
a. Determine the standard error of estimate.
b. Suppose a large sample is selected (instead of just 10). About 95% of the predictions regarding sales would occur between what
two values? Assuming that the Standard Error of Estimate does not change. Use z= 2.
Y'+[
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