Refer to Exercise 16. Determine the standard error of estimate and the coefficient of determination. Interpret the

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Refer to Exercise 16. Determine the standard error of estimate and the coefficient of determination. Interpret the coefficient of determination.

Data From Exercise 16:

Mr. James McWhinney, president of Daniel-James Financial Services, 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 Sales Number of Sales Contacts, ($ thousands), Contacts, ($ thousands), y y 14 24 23 30 12 14 48 90 20 28 50 85 16 30 55 120 46 80 50 110

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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