Extracted text: 5. What is the standard error of the estimates (Serror) in thousands of dollars?
6....

Question

Extracted text: 5. What is the standard error of the estimates (Serror) in thousands of dollars?
6. Based on what you can learn from this table, what is your assessment about the model?
For your information, the firm with the lowest travel expense was $47K and the firm with the
highest expense was $125K in the sample data.
Extracted text: A Ross MAP team is currently developing a regression model to explain the travel expense of HR
consulting firms in a month (measured in thousands of dollars). So far, the team has identified
the number of consultants, the number of clients, the number of air-travel trips, and the number
of trips to high-expense cities (e.g., NYC, Boston, San Jose) as potential independent variables.
A partial output of the corresponding regression model is in Figure 1. Use the figure to answer
question 4to6
ANOVA
df
SS
MS
F
Significance F
Regression
 XXXXXXXXXX
0.
Residual
127
2836.6
Total
 XXXXXXXXXX
Figure 1: Partial Regression Output
4. What is the R and adjusted R2 of the model?

Bikash · Accepted Answer

ANOVA
	 
	 
	 
	 
	 
	 
	df
	SS
	MS
	F
	Significance F
	Regression
	4
	13754.6
	3438.7
	154.0
	0
	Residual
	127
	2836.6
	22.3
	
	
	Total
	131
	16591.2
	126.7
	 
	 
MS Regression	= SS Regression/DF Regression
		= 13754/4
= 3438.7
				
MS Residual	= SS Residual/DF Residual
		= 2836.6/127
= 22.

5. What is the standard error of the estimates (Serror) in thousands of dollars? 6. Based on what you can learn from this table, what is your assessment about the model? For your information, the firm...

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