Penns Global Sales is a dealer of luxurioUS car and sells all types of luxurious cars worldwide. A new manager appointed in May 2021. At the upcoming sales meeting, the sales representative from all over the world will be in attendance. The new manager would like to impress upon them the importance of making extra sales each day. She would like to gather some information on the relationship between total assets and sales. She select a random sample of 12 Countries and determine the total asset and sales they made last year. Twelve of the countries are listed here with their total assets and 12-month sales. 12-Month Sales ($ billion) 68.13 Company Total Assets ($ billion) USA 134.47 6.59 Malaysia Canada 16.15 20.50 9.16 Маcau 3.37 4.62 Taiwan 5.22 1.58 China 166.84 72.00 9.81 4.19 Singapore Turkey Germany Brunei United Kingdom 6.14 10.54 10.70 6.90 0.235 0.545 52.12 25.11 New Zealand 7.69 4.34 a) Draw a scatter diagram. b) Compute the correlation coefficient. c) Determine the regression equation. d) For a countries with $100 billion in assets, predict the 12-month sales. e) The standard error of the slope is 0.03. Use the 0.05 significance level. Can we conclude that the slope of the regression line is different from zero? f) Determine the standard error of estimate. g) Determine the coefficient of determination. h) Interpret the coefficient of determination.

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Penns Global Sales is a dealer of luxurioUS car and sells all types of luxurious cars
worldwide. A new manager appointed in May 2021. At the upcoming sales
meeting, the sales representative from all over the world will be in attendance.
The new manager would like to impress upon them the importance of making
extra sales each day. She would like to gather some information on the
relationship between total assets and sales. She select a random sample of 12
Countries and determine the total asset and sales they made last year. Twelve
of the countries are listed here with their total assets and 12-month sales.
12-Month Sales ($
billion)
Company
Total Assets ($ billion)
USA
134.47
68.13
Malaysia
16.15
6.59
Canada
20.50
9.16
Macau
3.37
4.62
Taiwan
5.22
1.58
China
166.84
72.00
9.81
4.19
Singapore
Turkey
Germany
Brunei
6.14
10.54
10.70
6.90
0.235
0.545
United Kingdom
52.12
25.11
New Zealand
7.69
4.34
a) Draw a scatter diagram.
b) Compute the correlation coefficient.
c) Determine the regression equation.
d) For a countries with $100 billion in assets, predict the 12-month sales.
e) The standard error of the slope is 0.03. Use the 0.05 significance level.
Can we conclude that the slope of the regression line is different from
zero?
f) Determine the standard error of estimate.
g) Determine the coefficient of determination.
h) Interpret the coefficient of determination.
Transcribed Image Text:Penns Global Sales is a dealer of luxurioUS car and sells all types of luxurious cars worldwide. A new manager appointed in May 2021. At the upcoming sales meeting, the sales representative from all over the world will be in attendance. The new manager would like to impress upon them the importance of making extra sales each day. She would like to gather some information on the relationship between total assets and sales. She select a random sample of 12 Countries and determine the total asset and sales they made last year. Twelve of the countries are listed here with their total assets and 12-month sales. 12-Month Sales ($ billion) Company Total Assets ($ billion) USA 134.47 68.13 Malaysia 16.15 6.59 Canada 20.50 9.16 Macau 3.37 4.62 Taiwan 5.22 1.58 China 166.84 72.00 9.81 4.19 Singapore Turkey Germany Brunei 6.14 10.54 10.70 6.90 0.235 0.545 United Kingdom 52.12 25.11 New Zealand 7.69 4.34 a) Draw a scatter diagram. b) Compute the correlation coefficient. c) Determine the regression equation. d) For a countries with $100 billion in assets, predict the 12-month sales. e) The standard error of the slope is 0.03. Use the 0.05 significance level. Can we conclude that the slope of the regression line is different from zero? f) Determine the standard error of estimate. g) Determine the coefficient of determination. h) Interpret the coefficient of determination.
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