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 andthe y column shows the value of sales ($ thousands) last month foreach client sampled.
| Number of Contacts,X | Sales ($ thousands),y | Number of Contacts,x | Sales ($ thousands),y |
| 14 | | 24 | | 23 | | 30 | |
| 12 | | 14 | | 48 | | 90 | |
| 20 | | 28 | | 50 | | 85 | |
| 16 | | 30 | | 55 | | 120 | |
| 46 | | 80 | | 50 | | 110 | |
|
Determine the regression equation. (Negative valuesshould be indicated by a minus sign. Do not round intermediatecalculations. Round final answers to 2 decimalplaces.)
| x | | y | | (x−x¯) | | (y−y¯) | | (x−x¯)2 | | (y−y¯)2 | | (x−x¯) (y−y¯) |
| 14 | | | | | | | | | | | | | | | | 376.36 | | | | 1376.41 | | | | 719.74 | |
| 12 | | | | 14 | | | | −21.4 | | | | −47.1 | | | | | | | | | | | | | |
| 20 | | | | | | | | −13.4 | | | | | | | | 179.56 | | | | | | | | 443.54 | |
| 16 | | | | 30 | | | | | | | | −31.1 | | | | | | | | 967.21 | | | | | |
| 46 | | | | | | | | 12.6 | | | | | | | | | | | | 357.21 | | | | | |
| 23 | | | | | | | | −10.4 | | | | | | | | | | | | 967.21 | | | | | |
| 48 | | | | 90 | | | | | | | | 28.9 | | | | 213.16 | | | | | | | | 421.94 | |
| 50 | | | | 85 | | | | | | | | 23.9 | | | | 275.56 | | | | | | | | 396.74 | |
| 55 | | | | | | | | | | | | | | | | 466.56 | | | | 3469.21 | | | | 1,272.24 | |
| 50 | | | | 110.0 | | | | 16.6 | | | | 48.9 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
|
b. Determine the estimated sales if 40 contacts are made.(Do not round intermediate calculations. Round finalanswers to 2 decimal places.)
