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Mr. James McWhinney, manager of Daniel James Financial Services, believes there is a relationship in the number of customer contacts and the dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample data. 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.X Y# of contacts Sales in $thousands14 2412 1420 2816 3046 8023 3048 9050 8555 12050 110
Determine the regression equation.Determine the estimated sales if 40 contacts are made.Determine the standard error of estimate.Suppose a larger sample is selected (instead of just 10). About 95 percent of the predictionsregarding sales would occur between what two values? Make sure you show your work.
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