QUESTION 11 An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y), the package weight(X;), and the distance shipped (X2). Twenty packages were randomly selected from among the large number received for shipment, and a detailed analysis of the shipping cost was conducted for each package. The sample information is shown in the table below: Ch 10 #13 Data file.xİsx Cost of Shipment Package Weight Distance Shipped $3.40 4.3 100 $2.10 0.5 165 $11.10 5.3 245 $2.70 6.1 52 $2.00 4.7 58 $8.10 3.7 255 $15.60 7.2 265 $5.10 2.6 214 $1.10 0.8 105 $4.50 0.95 285 $6.10 6.4 120 $1.80 1.3 95 $14.60 6.7 245 $14.10 7.7 195 $9.30 6.8 165 $1.20 $12.20 $1.60 2.9 50 8.3 165 0.9 85 $8.10 4.6 207 $4.00 3.4 150 Estimate a simple linear regression model involving shipping cost and package weight. Interpret the slope coefficient of the least squares line. O a. As the package weight increases by one pound, the shipping cost increases by $1.49 on average. O b. As the package weight increases by 1.49 lbs, the shipping cost increases by $1 on average. O. As the package weight increases by one pound, the shipping cost increases by $0.08. O d. We cannot determine this effect with this regression as the results are insignificant.
QUESTION 11 An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y), the package weight(X;), and the distance shipped (X2). Twenty packages were randomly selected from among the large number received for shipment, and a detailed analysis of the shipping cost was conducted for each package. The sample information is shown in the table below: Ch 10 #13 Data file.xİsx Cost of Shipment Package Weight Distance Shipped $3.40 4.3 100 $2.10 0.5 165 $11.10 5.3 245 $2.70 6.1 52 $2.00 4.7 58 $8.10 3.7 255 $15.60 7.2 265 $5.10 2.6 214 $1.10 0.8 105 $4.50 0.95 285 $6.10 6.4 120 $1.80 1.3 95 $14.60 6.7 245 $14.10 7.7 195 $9.30 6.8 165 $1.20 $12.20 $1.60 2.9 50 8.3 165 0.9 85 $8.10 4.6 207 $4.00 3.4 150 Estimate a simple linear regression model involving shipping cost and package weight. Interpret the slope coefficient of the least squares line. O a. As the package weight increases by one pound, the shipping cost increases by $1.49 on average. O b. As the package weight increases by 1.49 lbs, the shipping cost increases by $1 on average. O. As the package weight increases by one pound, the shipping cost increases by $0.08. O d. We cannot determine this effect with this regression as the results are insignificant.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
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Transcribed Image Text:QUESTION 11
An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y),
the package weight(X:), and the distance shipped (X2). Twenty packages were randomly selected from among the large number received for
shipment, and a detailed analysis of the shipping cost was conducted for each package. The sample information is shown in the table below:
Ch 10 #13 Data file.xlsx
Cost of Shipment Package Weight Distance Shipped
$3.40
4.3
100
$2.10
0.5
165
$11.10
5.3
245
$2.70
6.1
52
$2.00
4.7
58
$8.10
3.7
255
$15.60
7.2
265
$5.10
2.6
214
$1.10
0.8
105
$4.50
0.95
285
$6.10
6.4
120
$1.80
1.3
95
$14.60
$14.10
6.7
245
7.7
195
$9.30
6.8
165
$1.20
2.9
50
$12.20
8.3
165
$1.60
0.9
85
$8.10
4.6
207
$4.00
3.4
150
Estimate a simple linear regression model involving shipping cost and package weight. Interpret the slope coefficient of the least squares line.
O a. As the package weight increases by one pound, the shipping cost increases by $1.49 on average.
O b. As the package weight increases by 1.49 lbs, the shipping cost increases by $1 on average.
O C. As the package weight increases by one pound, the shipping cost increases by $0.08.
d. We cannot determine this effect with this regression as the results are insignificant.
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