Accountants at the Renong and Khalid Accountant Company believed that several travelingexecutives were submitting unusually high travel vouchers when they returned from businesstrips. First, they took a sample of 200 vouchers submitted from the past year. Then theydeveloped the following multiple-regression equation relating expected travel cost (Y) tonumber of days on the road (X1) and distance travelled (X2) in miles:Y = 90.00 + 48.50X1 + 0.40X2Here is additional information concerning the regression model:Sb1 = 0.038Sb2 =0.019R? = 0.68Se = 1.63F-Statistic = 32.123Durbin-Watson (d) statistic = 0.5436a) Which of the independent variables appear to be statistically significant (at the0.05 significant level) in explaining the expected travel cost for accountants?Explain.b) (Mr. Ghazali returns from a 200-mile trip that took him out of town for 5 days),what is the expected amount of his claim.c) What proportion of the total variation in expected travel cost is explained by theregression equation? Explain.d) In your opinion, should there any other variables be included? Explain.

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Answered: Accountants at the Renong and Khalid…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 4GP

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