Bardi Trucking Co., located in Cleveland, Ohio, makes deliveries in the Great Lakes region, the Southeast, and

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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:

a. Draw a scatter diagram. Based on these data, does it appear that there is a relationship between how many miles a shipment has to go and the time it takes to arrive at its destination?
b. Determine the correlation coefficient. Can we conclude that there is a positive correlation between distance and time? Use the .05 significance level.
c. Determine and interpret the coefficient of determination.
d. Determine the standard error of estimate.
e. Would you recommend using the regression equation to predict shipping time? Why or whynot.

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a There appears to be a relationship between the two variables As the distance increases so does the ...View the full answer

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Statistical Techniques In Business And Economics

ISBN: 356

16th Edition

Authors: Douglas Lind, William Marchal

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Question Posted: Dec 10, 2014 07:58 AM

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Bardi Trucking Co., located in Cleveland, Ohio, makes deliveries in the Great Lakes region, the Southeast, and

Question:

Shipping Time (days) Distance Distance Shipping Time Shipment (miles) (days) Ship (miles) 12 13 14 15 16 17 18 19 862 679 835 607 665 647 685 720 652 828 14 853 646 783 610 841 785 639 762 762 13 10 10 10 10 10

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a There appears to be a relationship between the two variables As the distance increases so does the ...View the full answer

Statistical Techniques In Business And Economics

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