Bardi Trucking Co located in Cleveland Ohio makes deliveries

Bardi Trucking Co., located in Cleveland, Ohio, makes deliveries in the Great Lakes region, the Southeast, and the Northeast. Jim Bardi, the president, is studying the relationship between the distance a shipment must travel and the length of time, in days, it takes the shipment to arrive at its destination. To investigate, Mr. Bardi selected a random sample of 20 shipments made last month. Shipping distance is the independent variable and shipping time is the dependent variable. The results are as follows:

Determine the standard error of estimate. (Round your answer to 3 decimal places.)

The regression output of the data is as shown below -

So, we can see that the standard error of the slope = 0.010678528.

So, rounding upto 3 decimal places we get - 0.011

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.171919001
R Square	0.029556143
Adjusted R Square	-0.0243574
Standard Error	3.669823456
Observations	20

ANOVA
	df	SS	MS	F	Significance F
Regression	1	7.383124479	7.383124	0.548214	0.468597
Residual	18	242.4168755	13.4676
Total	19	249.8

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	4.006467138	8.001962053	0.500686	0.622659	-12.805	20.81797	-12.805	20.81797
Distance (miles)	0.007906537	0.010678528	0.740415	0.468597	-0.01453	0.030341	-0.01453	0.030341

Bardi Trucking Co., located in Cleveland, Ohio, makes deliveries in the Great Lakes region, the Southeast, and the Northeast. Jim Bardi, the president, is study

Bardi Trucking Co located in Cleveland Ohio makes deliveries

Solution

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