Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a…

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. (Round the final answers to 2 decimal places.) 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

a. Determine the standard error of estimate.

b. Suppose a large sample is selected (instead of just 10). About 95% of the predictions regarding sales would occur between what two values? Assuming that the Standard Error of Estimate does not change. Use z = 2. Y’ ±

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