A manager wishes to determine the relationship between the number of miles trave

Question

A manager wishes to determine the relationship between the number of miles traveled (in hundreds of miles) by her sales representatives and their amount of sales (in thousands of dollars) per month in an attempt to predict future sales.  

Here is a part of the Excel regression output for the data. What is the equation for the line based on this output?

Coefficients

Standard Error

t Stat

P-value

Intercept

37.91575092

13.15092845

2.8831235

0.023546

miles

3.529304029

1.635370567

2.1581066

0.067797

Coefficients

Standard Error

t Stat

P-value

Intercept

37.91575092

13.15092845

2.8831235

0.023546

miles

3.529304029

1.635370567

2.1581066

0.067797

Explanation / Answer

We will get the regression line equation from the coefficients column of the above table. Therefore we get:

Sales amount= Intercept +Coefficient of miles* ( Number of Miles )

Sales amount= 37.91575092 + 3.529304029* ( Number of Miles )

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