Question
Suppose that for a typical FedEx package delivery, the cost of the shipment is a function of the weight of the package measured in ounces.
Suppose that for a typical FedEx package delivery, the cost of the shipment is a function of the weight of the package measured in ounces. You want to try to predict the cost of a typical shipment given package dimensions. If 10 packages in a city are sampled and the regression output is given below, what can we conclude about the slope of weight?
Slope of weight =0.893
a. The slope is equal to 0.
b. The slope significantly differs from 0.
c. Since we are not given the dataset, we do not have enough information to determine if the slope differs from 0.
d. The slope is 0.893 and therefore differs from 0.
e. Not enough evidence was found to conclude the slope differs significantly from 0.
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