Create a model to predict postal rates from the year.

Name: Create a model to predict postal rates from the year.
Brand: Quizplus
Rating: 4.8 (25 reviews)

Question

Quizplus · Accepted Answer

The Answer is Dependent variable is: Postal Rate
No Selector

R

squared

= 99.0 \mathrm {~B} \quad \mathrm { R }

squared (adjusted)

= 98.88

s = 0.008641

with

10 - 2 = 8

degrees of freedom

\begin{array} { l l c r r } ext { Source } & ext { Sum of Squares } & ext { df } & ext { Mean Square } & ext { F-ratio } \ ext { Regression } & 0.0563626 & 1 & 0.0563626 & 755 \ ext { Residual } & 0.000597404 & 8 & 0.0000746754 & \end{array}

\begin{array} { l l l l c } ext { Variable } & ext { Coefficient } & ext { s.e. of Coeff } & ext { t-ratio } & ext { prob } \ ext { Constant } & - 19.9278 & 0.7324 & - 27.2 & \leq 0.0001 \ ext { Year } & 0.0101518 & 0.0003695 & 27.5 & \leq 0.0001 \end{array}

\widehat { ext { Rate } } = - 19.93 + 0.01015 ( ext { year } )

Create a Model to Predict Postal Rates from the Year