A company believes that the variation in the cost of a shipment can be explained by the weight ofthe package. A sample of 20 customer shipments was selected, and this scatter plot andregression line were obtained:Shippingy = 1.101x + 4.4995r= 0.87643025201510510152025Weight (Ib)a. Find r' and interpret the meaning of r in the context of this problem.b. Interpret the meaning of the slope in the context of this problem.c. Interpret the meaning of the y-intercept in the context of this problem. Explain whether ornot it makes sense.d. Using the regression equation, calculate the expected cost of a package that weighs 11 lbs.e. Using the regression equation, find the weight of a package that cost $20 to ship.Cost (dollars)

Answered: A company believes that the variation…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A company believes that the variation in the cost of a shipment can be explained by the weight of
the package. A sample of 20 customer shipments was selected, and this scatter plot and
regression line were obtained:
Shipping
y = 1.101x + 4.4995
r= 0.8764
30
25
20
15
10
5
10
15
20
25
Weight (Ib)
a. Find r' and interpret the meaning of r in the context of this problem.
b. Interpret the meaning of the slope in the context of this problem.
c. Interpret the meaning of the y-intercept in the context of this problem. Explain whether or
not it makes sense.
d. Using the regression equation, calculate the expected cost of a package that weighs 11 lbs.
e. Using the regression equation, find the weight of a package that cost $20 to ship.
Cost (dollars)

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