STAT TECH IN BUSINESS & ECON LL\AC
STAT TECH IN BUSINESS & ECON LL\AC
18th Edition
ISBN: 9781264720545
Author: Lind
Publisher: MCG
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Chapter 13, Problem 34E

Refer to Exercise 16.

  1. a. Determine the .95 confidence interval, in thousands of dollars, for the mean of all sales personnel who make 40 contacts.
  2. b. Determine the .95 prediction interval, in thousands of dollars, for a particular salesperson who makes 40 contacts.

16. 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.

Chapter 13, Problem 34E, Refer to Exercise 16. a. Determine the .95 confidence interval, in thousands of dollars, for the

  1. a. Determine the regression equation.
  2. b. Determine the estimated sales if 40 contacts are made.
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STAT TECH IN BUSINESS & ECON LL\AC

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