A linear regression model is designed to predict service charges by a bank (in dollars per month) based on sales revenues of 26 companies who use the services (in millions of dollars). A partial output from Excel givesi=-5428 + 32.756xialong with SSE = 117600, and the p-value = 0.04022 for the estimated slope. Interpret the standard error of the estimate.

a.Approximately 96% of the observed service charges fall within $140 of the least squares line

b.Approximately 95% of the observed service charges equal their corresponding predicted values

c.Approximately 95% of the observed service charges fall within $117600 of the least squares line

d.None of the suggested answers are correct

e.For every $1 million increase in sales revenue, we expect a service charge to increase by $117600