A manager wishes to determine the relationship between the distance (in hundreds of miles) the manager's sales representatives travel per month and the amount of sales (in thousands of dollars) per month.

Figure 1. Mileage data.

Miles traveled x 2 3 10 7 8 15 3 1 11

Sales y 31 33 78 62 65 61 48 55 120

Find the equation of the regression line for the given data.

Find the standard error of estimate. Interpret the value.