Mr. James McWhinney, president of Daniel-James FinancialServices, believes there is a relationship between the number ofclient contacts and the dollar amount of sales. To document thisassertion, 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 monthfor 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 |
- Determine the standard error of estimate
- Determine the coefficient of determination. Interpret thecoefficient of determination
