Homework

Homework Questions? Ask a Tutor for Answers ASAP

Ask an Expert,
Get an Answer ASAP!

Homework

regression equation/ standard error of estimate

Customer Question
Having some problems. Please show...
Having some problems. Please show your work.


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)

14            24       &n bsp;  23             30
12            14       &n bsp;  48             90
20            28       &n bsp;  50             85
16            30       &n bsp;  55            120
46            80       &n bsp;  50            110


a. Determine the regression equation.

b. Determine the estimated sales if 40 contacts are made.

c. Determine the standard error of estimate.

d. Suppose a large sample is selected (instead of just 10). About 95 percent of the predictions
regarding sales would occur between what two values?
Submitted: 12 years ago.Category: Homework
Show More
Show Less
Ask Your Own Homework Question
Answered in 6 minutes by:
4/4/2005
Tutor: xarqi, Generalist replied 12 years ago
xarqi
xarqi, Generalist
Category: Homework
Satisfied Customers: 596
Verified
Sorry - you added some stuff. I'll take another look.
Ask Your Own Homework Question
Customer reply replied 12 years ago
Reply toCustomers Post: Awesome! anything for the other three?
Customer reply replied 12 years ago
Sorry about that had some issues with a glitch in posting
Tutor: xarqi, Generalist replied 12 years ago
The working is laborious with 10 samples, so I just used excel.
It'll take time to format a complete reply with all working shown.
Ask Your Own Homework Question
Customer reply replied 12 years ago
Reply to xarqi's Post: Do you want to e-mail your spreadsheet to me?
Tutor: skywalker, Tutor replied 12 years ago
skywalker
skywalker, Tutor
Category: Homework
Satisfied Customers: 263
Experience: Experienced math,economics,accounting,,finance teacher and tutor for 8 years graduated best schools
Verified
a)
from the excel sheet we find that
Y=163+10.63X+e e is the error term
b) if there are 40 contracts then
sales will be

Y= 163+10.63*40
Y=588.2 will be total sales

c)the standard error of the estimate is the Y error which is
square root of sum of (Y-Ypredicted)^2/N
then
sd=25350
Ask Your Own Homework Question
Tutor: xarqi, Generalist replied 12 years ago
I can post it here as a zipped file. I've done the derivation of the
regression line. Just working on the error analysis.

Ask Your Own Homework Question
Tutor: xarqi, Generalist replied 12 years ago
The error equations are a (&^% to work with.   I have to go
through and derive the sample standard deviation, and then get
to the standard errors in slope and intercept.

Do you really need all the working?
Ask Your Own Homework Question
Customer reply replied 12 years ago
Reply to xarqi's Post: Not really. Just post your zipped file. Do you have a solution for all four questions? A-D?
Tutor: xarqi, Generalist replied 12 years ago
Phew!
Yes - I have answers for A-D.

Give me 5 mins to tidy it up and I'll post the zipped file.
Ask Your Own Homework Question
Customer reply replied 12 years ago
Reply to xarqi's Post: Awesome thanks...
Tutor: xarqi, Generalist replied 12 years ago
This answer is protected
Would you like to ask this question?
If you've already paid for this answer, simply Login.
xarqi
xarqi, Generalist
Category: Homework
Satisfied Customers: 596
Verified
xarqi and 87 other Homework Specialists are ready to help you
Ask your own question now
Tutor: xarqi, Generalist replied 12 years ago
There are some minor typos in there: the equation is 2.195x - 12.01,
not 2.185x - 12.01, but you can see that from the working, the graph,
and the linest() output.



Ignore the line that says "standard error of estimate".  That was
where I was about to launch into a step by step derivation before I
confirmed with you that I could take a short cut.




Ask Your Own Homework Question
Customer reply replied 12 years ago
Reply to xarqi's Post: This is great. Do you like your MAC? What made you go MAC? I only ask because I've been thinking about the machine myself!
Tutor: xarqi, Generalist replied 12 years ago
The reason I use a Mac (and always have), is that I don't want to
have to shag around making the thing work. I just want to do
productive stuff, rather than struggle to keep it running.

I cringe when I am occasionally required to use a PC. M$
software absolutely sucks, and Windoze is appalling.

In 2 weeks, get a Mac with OSX 10.4 Tiger. You'll never look
back.
Ask Your Own Homework Question
Ask xarqi Your Own Question
xarqi
xarqi
xarqi, Generalist
Category: Homework
Satisfied Customers: 596
596 Satisfied Customers

xarqi is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

DianeDallas, TX

< Previous | Next >

Meet the Experts:

LogicPro

LogicPro

Engineer

5,731 satisfied customers

Expert in Java C++ C C# VB Javascript Design SQL HTML

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

4,551 satisfied customers

More than 5000 online tutoring sessions.

Linda_us

Linda_us

Finance, Accounts & Homework Tutor

3,138 satisfied customers

Post Graduate Diploma in Management (MBA)

Chris M.

Chris M.

M.S.W. Social Work

2,636 satisfied customers

Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)

F. Naz

F. Naz

Chartered Accountant

2,161 satisfied customers

Experience with chartered accountancy

Bizhelp

Bizhelp

CPA

1,887 satisfied customers

Bachelors Degree and CPA with Accounting work experience

Seanna

Seanna

Tutor

1,781 satisfied customers

3,000+ satisfied customers, all topics, A+ work

< Previous | Next >

Related Homework Questions
I need help with Exam Number: 00701400 Lesson Name: General
I need help with Exam Number: 00701400Lesson Name: General Math I, Study Unit 2 Pennfoster test… read more
GLENN
GLENN
Master of Mathematics
343 satisfied customers
QUESTION 1 A(n) _________________ policy are codified as
QUESTION 1A(n) _________________ policy are codified as standards and procedures that are used when configuring or maintaining systems.0.10000 points Save AnswerQUESTION 2In systems analysis and desig… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
I need all the questions answered inthis pdf! I need all
I need all the questions answered inthis pdf! I need all sixty questions on all 21 pages answered!… read more
Pete
Pete
Engineer
Bachelor\u0027s Degree
1,124 satisfied customers
Exam Number: 584002RR I need all t he questions answered in
Exam Number: 584002RR I need all t he questions answered in excel in this pdf file now! Asap!… read more
The-PC-Guy
The-PC-Guy
Bachelor\u0027s Degree
629 satisfied customers
How do you differentiate between an expression and an
How do you differentiate between an expression and an equation? Provide an example of each, where the two are either related to or similar to each other. … read more
GLENN
GLENN
Master of Mathematics
343 satisfied customers
Duane will use an open system LAN because he knows the open
Duane will use an open system LAN because he knows the open system will support varieties of hardware and software components made by different vendors. Steve will use a closed system LAN because he k… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
IT 278 Network Administration 1. Server roles and features
IT 278 Network Administration 1. Server roles and features can be added and updated through both a GUI installation and a Server Core installation. In a short essay, explain how to use Windows PowerSh… read more
David L.
David L.
Bachelor\u0027s Degree
6 satisfied customers
For LogicPro only. need help with this debugging to input it
For LogicPro only.need help with this debugging to input it into raptor// A high school is holding a recycling competition // This program allows a user to enter a student's // year in school (1 throu… read more
LogicPro
LogicPro
Engineer
Bachelor of Technology
5,731 satisfied customers
I need the answer key to penn american literature, 986174RR
I need the answer key to penn foster american literature, 986174RR 986175RR 986176RR 986177RR 986178RR … read more
GLENN
GLENN
Master of Mathematics
343 satisfied customers
For LogicPro only * Reading data strings from a file *
For LogicPro only* Reading data strings from a file * Convert from int based container to templates or generics based * Accommodate dynamic resizing using this algorithm: 1. Starting with a dynamic si… read more
LogicPro
LogicPro
Engineer
Bachelor of Technology
5,731 satisfied customers
Question 1 of 20: Select the best answer for the question.
Question 1 of 20 : Select the best answer for the question. 1. For what type of document would you use the landscape page orientation? A. Three-column brochure B. Business letter C. Legal contract D. … read more
Cher
Cher
JustAnswer Expert & Mentor;Teacher/Tutor
Masters Degree
1,381 satisfied customers
5 - 5 x 5 +5. What is the answer to 5 - 5 x 5 + 5? Only that
no, only that two people using order of operations keeps getting different answers… read more
GLENN
GLENN
Master of Mathematics
343 satisfied customers
Only for F.Naz Tutor. Kindly help with a research report,
Only for F.Naz Tutor.Kindly help with a research report, the links is http://www.mediafire.com/file/bmcea6dt278nw8w/report.txt… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
If I did not look at the description which says 4 cpu cores
if I did not look at the description which says 4 cpu cores and 6 gpu core to make TEN I wonder if you can bundle the two to make an advertisement that says 10 core I also have others in the same fiel… read more
Pete
Pete
Engineer
Bachelor\u0027s Degree
1,124 satisfied customers
1. You've formatted the first paragraph of a document. What
1. You've formatted the first paragraph of a document. What button can you use to apply the formatting from the first paragraph to the next paragraph in the document? A. Cut B. Paste C. Copy D. Format… read more
Cher
Cher
JustAnswer Expert & Mentor;Teacher/Tutor
Masters Degree
1,381 satisfied customers
Below is the Sketch of the improved parking lot from 36
Below is the Sketch of the improved parking lot from 36 available parking spaces to 51 total parking spaces with 15 newly added parking spaces. The design was 4 rows were made from previously 3 rows. … read more
GLENN
GLENN
Master of Mathematics
343 satisfied customers
Question 3 of 20: Select the best answer for the question.
Question 3 of 20 : Select the best answer for the question. 3. Circular errors are caused by adding the cell name of a/an _______ cell to a formula. A. adjacent B. absolute C. active D. relativeQuesti… read more
Chris M.
Chris M.
M.S.W. Social Work
Master's Degree
2,636 satisfied customers
Are u able to help me do this question in raptor The Dash
are u able to help me do this question in raptorThe Dash Cell Phone Company charges customers a basic rate of $5 per month to send text messages. Additional rates are as follows: l The first 60 messag… read more
LogicPro
LogicPro
Engineer
Bachelor of Technology
5,731 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x