Question. Mr. James McWhinney, president of Daniel-James financial Service 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, |
Sales ($ thousands), |
Number of Contacts, |
Sales ($ thousands), |
| X |
Y |
X |
Y |
| 14 |
24 |
23 |
30 |
| 12 |
14 |
48 |
90 |
| 20 |
28 |
50 |
85 |
| 16 |
30 |
55 |
120 |
| 46 |
80 |
50 |
110 |
a. Determine the regression equation.
b. Determine the estimated sales if 40 contacts are made.