Cengage × y-2. MindTap-Cengage Learning × ::: Apps ? ? Secure l https://ng.ce ng

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Cengage × y-2. MindTap-Cengage Learning × ::: Apps ? ? Secure l https://ng.ce ngage.com/static/nb/ui/index.html?nbld-137767&nbNodeld-37703907;&eISBN-978130; 5266315#1&parentld-37703912; Screencast Launchpad-Blackboard D schedule Aplia Statistics?Labs 123movies S Drug Guide i ATI L Clinicals Research Databases Other Bookmarks MINDTAP From Cen Kaya Naiwi ( ? : Correlation and Regression Brase: Understanding Basic Statistics Chapter Contents 8. Sales: Insurance Dorothy Kelly sells life insurance for the Prudence Insurance Company. She sells insurance by making visits to her clients' homes. Dorothy believes that the number of sales should depend, to some degree, on the number of visits made. For the past several years, she has kept careful records of the number of visits (x) she makes each week and the number of people (y) who buy insurance that week. For a random sample of 15 such weeks, the and y values follow: 1119 16 13 28 5 20 14 22 7 15 29 8 25 16 y 3 11 8 5 8 256 8 3 5 10 6 107 Complete parts (a) through (c), given d. In a week during which Dorothy makes 18 visits, how many people do you predict will buy insurance from her

Explanation / Answer

We need to find the equation which can predict y for a given value of x

So , we will need to find equation of the form : y = a + b*x

where a nd b are coefficients.

b = Cov(x,y) / var(x)

a = mean(y) - b * mean(x)

So using the data ,

b = 14.7511 / 50.38 = 0.2927

a = 6.46667 - 0.2927*16.53333 = 1.626

So , the equation will be y = 1.626 + 0.2927*x

Now we are given that x = 18

We have , y = 1.626 + 0.2927*18 = 6.89 which is almost equal to 7

So, in a week during Dorothy makes 18 visits , 7 people will buy insurance from her.

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