Question
The results of the regression analysis to estimate delivery costs are as follows: Which of the following statements represent a valid conclusion based on the
The results of the regression analysis to estimatedelivery costsare as follows:
Which of the following statements represent a valid conclusion based on the above regression analysis output?
54.4% of transportation cost can be explained by the number of cargos.
The F-statistic is considered significant; therefore, the relationship in the regression is unlikely to happen by chance.
The p-value associated with the intercept suggests that the delivery costs are entirely variable.
Given the t-statistic, number of cargos is a poor cost driver of delivery cost.
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