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Is the forecasting equation worthwhile

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Reference no: EM132837353

The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker. They sample 12 brokers and determine the number of new clients they have enrolled in the last year and their sales amounts in thousands of dollars. These data are presented in the table that follows. The Excel output is attached.

Broker clients sales

1 27 52
2 11 37
3 42 64
4 33 55
5 15 29
6 15 34
7 25 58
8 36 59
9 28 44
10 30 48
11 17 31
12 22 38

A. Is the forecasting equation worthwhile? Explain.

B. What is the probability the regression equation is not due to random chance?

Reference no: EM132837353

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