BUS 204-Fundamentals of Business Analytics

Also, if possible, can you give the excel file with the formula on how to solve it. I would really appreciate it. Thank you!

Problem 1. PREDICTING COST OF SHIPMENT Package Cost of Shipment Package Weight Distance Shipped 1 $3.30 4.10 95 2 $2.00 0.30 160 3 $11.00 5.10 240 4 $2.60 5.90 4? 5 $1.90 4.50 53 6 $8.00 3.50 250 '1 $15.50 2.00 260 S $5.00 2.40 209 9 $1.00 0.60 100 10 $4.40 0.75 280 11 $6.00 6.20 115 12 $1.20 1.10 90 13 $14.50 6.50 240 14 $14.00 2.50 190 15 $9.20 6.60 160 16 $1.10 2.10 45 17 $12.10 8.10 160 13 $1.50 0.20 30 19 $8.00 4.40 202 20 $3.90 3.20 145 21 $3.30 4.10 9'5 22 $2.00 0.30 160 23 $11.00 5.10 240 24 $2.60 5.90 4'? 25 $1.90 4.50 53 26 $8.00 3.50 250 27 $15.50 7.00 260 28 $5.00 2.40 209 29 $1.00 0.60 100 30 $4.40 0.25 280 31 $6.00 6.20 115 32 $1.70 1.10 90 33 $14.50 6.50 240 34 $14.00 7.50 190 35 $9.20 6.60 160 36 $1.10 2.70 45 37 $12.10 8.10 160 33 $1.50 0.20 30 39 $3.00 4.40 202 3:. Q $3 .90 3.20 145 Select all that apply. In regression analysis, the variable we are trying to explain or predict is called is usually denoted by X the dependent variable O the regression variable O the dummy variable O is usually denoted by Y O the statistical variable the target variable the response variableQuestion 15 0 / 3 pts In a multiple regression problem involving 35 observations and five explanatory variables, SST = 900 and SSE = 460. The value of the F-ratio for testing the significance of this model is 15.56. O True O FalseReport the linear correlation between Cost of Shipment and Package Weight. Round to 4 decimals. 0.0065 ' Question 17 O I 3 pts You want to construct a multiple regression model to predict the cost of shipment from the package weight and distance shipped. Run the regression in Excel. Save your work in a worksheet named Problem 1 Regression. Report the y-intercept. Round to 4 decimals. 0.0065 Question 18 0 / 3 pts Report the slope coefficient of the variable Package Weight. Round to 4 decimals. 0.0002Question 19 0 / 3 pts Report the slope coefficient of the variable Distance Shipped. Round to 4 decimals. 0.0004Question 20 3 pts Match the following statements with the numerical values provided. The cost of shipment increases approximately by ______ per each additinal pound [ Choose ] v The cost of shipment increases approximately by ______ per each extra mile. The model explains of total variability in the cost of shipment. The average error of prediction _ [ Choose ] V I5 expected to be about Question 21 0 / 3 pts Compute the standard error (Se) of the estimate. Round the answer to 4 decimals. 456.32. Question 22 0 l 3 pts Assuming bell shaped distribution in residuals, 95% of the time you expect the error of prediction to be within about _________ of the response value. Round to 2 decimals. 24.72 Question 23 0 / 3 pts What would you say about the overall significance of the model? Use a 5% level of significance. O The model is significant because the p-value is less than 5% The model is not significant because the p-value is more than 5% The model is not significant because the F-ratio is more than 5%.0 / 3 pts Question 24 The variable Distance Shipped is not significant. True O False