Exhibit 14-1
An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y),the package weight in pounds (X₁),and the distance shipped in miles (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:
-Refer to Exhibit 14-1.Estimate a simple linear regression model involving shipping cost and package weight.Interpret the slope coefficient of the least squares line as well as R².

Question

Exhibit 14-1
An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y),the package weight in pounds (X₁),and the distance shipped in miles (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:

-Refer to Exhibit 14-1.Estimate a simple linear regression model involving shipping cost and package weight.Interpret the slope coefficient of the least squares line as well as R².

Quizplus · Accepted Answer

The Answer of Exhibit 14-1 An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y),the package weight in pounds (X 1 ),and the distance shipped in miles (X 2 ).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: -Refer to Exhibit 14-1.Estimate a simple linear regression model involving shipping cost and package weight.Interpret the slope coefficient of the least squares line as well as R².

Exhibit 14-1 an Express Delivery Service Company Recently Conducted a Study to Study