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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.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 8SGR
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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 $23 40 70 42 69 50 99 34 50 14 33 47 123 42 67 21 28 a. Determine the standard error of estimate. b. Suppose a large sample is selected (instead of just 10). About 95% of the predictions regarding sales would occur between what two values? Assuming that the Standard Error of Estimate does not change. Use z= 2. Y'+[
Transcribed Image Text:Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. The X column indicates the number of client contacts last month, and the Y column shows the value of sales ($ 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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