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Calculate the total dollar volume of business

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Reference no: EM131655247

Question: The Skelton Manufacturing Company recently did a study of its customers. A random sample of 50 customer accounts was pulled from the computer records. Two variables were observed: y = Total doll volume of business this year x = Miles customer is from corporate head-quarters The following statistics were computed:

y^ = 2,140.23 - 10.12x

Sb1 = 3.12

a. Interpret the regression slope coefficient.

b. Using a significance level of 0.01, test to determine whether it is true that the farther a customer is from the corporate headquarters, the smaller the total dollar volume of business.

Reference no: EM131655247

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