how do you do 30 CHOICE. Choose the one alternative that best completes the stat
ID: 3325222 • Letter: H
Question
how do you do 30
CHOICE. Choose the one alternative that best completes the statement or answers the question. O 13-I national bank charges local companies nies. One independent variable used to predict service charges to a company is the com measured in millions of dollars. Data for 21 companies who use the bank's services were use A arge analysis designed to predict the bank's charges ()-measured in dollars per month -for services compa for using their services. A bank official reported the results of a regression rendered to local pany's sales revenue X) The results of the simple linear regression are provided below. -2.700 + 20x. srX = 65, two-tail p-value 0.034 (for testing h) 30) Referring to Scenario 13-1, interpret the estimate of o, the standard deviation of the random error 30) term (standard error of the estimate) in the model. A) For every $I million increase in sales revenue, we expect a service charge to increase $65. B) About 95% of the observed service charges fall within $130 of the least squares line. C About 95% of the observed service charges equal their corresponding predicted values. D) About 95% of the observed service charges fall within $65 of the least squares line. SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. SCENARIO 13-5Explanation / Answer
Solution: It is a multiple choice question and the answer to this question is option D About 95% of the observed service charge fall within $65of the lease squares line, because standard error of the estimate in the model represents the average distance that the observed values fall from the regression line.
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