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2. The owner of a small delivery services business wants to estimate how long delivery will take based on two (2) factors: the total distance
2. The owner of a small delivery services business wants to estimate how long delivery will take based on two (2) factors: the total distance of the trip in miles and the daily price of gas in Peso. To conduct the analysis, he takes a random sample of ten (10 past trips and recorded the following information: Miles Traveled (X,) Gas Price (X3) Travel time (hrs.) (Y) 89 184.73 7 66 153.46 5.4 78 181.84 6.6 111 187.13 7.4 44 171.74 4.8 77 171.74 6.4 80 145.76 7 66 168.85 5.6 109 170.29 7.3 76 156.34 6.4 a. Using MS Excel, determine the sample statistics (coefficients) and formulate the estimated multiple regression equation. b. What is the estimated travel time if a trip travels 89 miles and consumes 184.73 pesos for gas? C. At a 5% alpha level, test and interpret the individual significance of the parameters
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