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 your answers to 3 decimal places.) Number of Contacts, Sales ($ thousands), Nunber of Contacts, Sales ($ thousands), 14 24 23 30 12 20 14 48 90 28 16 55 50 120 110 46 a. Determine the 95% confidence interval, in thousands of dollars, for the mean of all sales personnel who make 40 contacts. b. Determine the 95% prediction interval, in thousands of dollars, for a particular salesperson who makes 40 contacts.
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 your answers to 3 decimal places.) Number of Contacts, Sales ($ thousands), Nunber of Contacts, Sales ($ thousands), 14 24 23 30 12 20 14 48 90 28 16 55 50 120 110 46 a. Determine the 95% confidence interval, in thousands of dollars, for the mean of all sales personnel who make 40 contacts. b. Determine the 95% prediction interval, in thousands of dollars, for a particular salesperson who makes 40 contacts.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
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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 your answers to 3 decimal places.)
Number of
Sales
Number of
Sales
Contacts,
($ thousands),
Contacts,
($ thousands),
14
24
23
30
90
12
14
48
20
28
30
se
55
85
16
120
46
80
50
110
a. Determine the 95% confidence interval, in thousands of dollars, for the mean of all sales personnel who make 40 contacts.
b. Determine the 95% prediction interval, in thousands of dollars, for a particular salesperson who makes 40 contacts.
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