1 2 3 4 5 6 7 8 8 10 15 9 12 13 12 16 QUARTER Sales of NCEC Services (in $ thousands) Contracts Released 153 172 197 178 185 199 205 226 (in $ thousands)
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Dave Fletcher, the general manager of North Carolina
Engineering Corporation (NCEC), thinks that his firm’s engineer-
ing services contracted to highway construction firms are directly
related to the volume of highway construction business contracted
with companies in his geographic area. He wonders if this is really
so, and if it is, can this information help him plan his operations
better by forecasting the quantity of his engineering services
required by construction firms in each quarter of the year? The
following table presents the sales of his services and total amounts
of contracts for highway construction over the past eight quarters:
a) Using this data, develop a regression equation for predicting
the level of demand of NCEC’s services.
b) Determine the coefficient of
of the estimate.
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