Confidence interval-prediction interval

Assignment Help Basic Statistics

Reference no: EM13105332

Please show all the work.

1. 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.

Number of Contacts, X Sales ($ thousands), Y

14 24

12 14

20 28

16 30

46 80

23 30

48 90

50 85

55 120

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.

Reference no: EM13105332

Questions Cloud

Illustrate what can a manager do to increase the usefulness : In that case, should the manager use the imperfect information or not? Illustrate what can a manager do to increase the usefulness of imperfect information?

Illustrate what is the difference among managing-leading : Illustrate what is the term used when conclusions based on the aggregated crosstabulation can be completely reversed when you look at the unaggregated data?

Provide segmented financial information for a company : Discover the financial statements for an openly traded company that provides segmented financial information. Make an outline approximately 300 words of what is revealed about the company through its segmented data.

Average number of facebook friends worldwide : What is the calculation if facebook reports that the average number of facebook friends worldwide is 175.5 with a standard deviation of 90.57 . If i was to take a sample of 25 students, what is the probability that the mean number of facebook frie..

Confidence interval-prediction interval : 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.

Determine if hacking into a web site is ever justifiable : Determine if hacking into a Web site is ever justifiable, applying your theory to a real world case in which someone hacked into a system, including the name of the company and detail.

Explain how terrorism influenced police mission in us : Explain how has terrorism influenced police mission in U.S.? What disagreements exist regarding suitable law enforcement behavior.

Various policy mechanisms : Small numbers cases are situations in which the number of involved parties is small enough to meaningfully engage in negotiation or litigation and An exception to relying on those mechanisms arises when many parties can be represented by a single ..

Discuss the relationships of sustainable thinking : Explain and discuss the relationships of sustainable thinking to crisis management and total quality management paradigms.

User Account

All Pages