Exhibit 14-1An Express Delivery Service Company Recently Conducted a Study

Essay

Exhibit 14-1An express delivery service company recently conducted a study to investigate the relationship between the cost of shipping a package (Y), the package weight in pounds (X1), and the distance shipped in miles (X2). Twenty packages were randomly selected from among the large number received for shipment, and a detailed analysis of the shipping cost was conducted for each package. The sample information is shown in the table below:
$$\begin{array} { c c c } \text { Cost of Shipment } & \text { Package Weight } & \text { Distance Shipped } \\\$ 3.40 & 4.3 & 100 \\\$ 2.10 & 0.5 & 165 \\\$ 11.10 & 5.3 & 245 \\\$ 2.70 & 6.1 & 52 \\\$ 2.00 & 4.7 & 58 \\\$ 8.10 & 3.7 & 255 \\\$ 15.60 & 7.2 & 265 \\\$ 5.10 & 2.6 & 214 \\\$ 1.10 & 0.8 & 105 \\\$ 4.50 & 0.95 & 285 \\\$ 6.10 & 6.4 & 120 \\\$ 1.80 & 1.3 & 95 \\\$ 14.60 & 6.7 & 245 \\\$ 14.10 & 7.7 & 195 \\\$ 9.30 & 6.8 & 165 \\\$ 1.20 & 2.9 & 50 \\\$ 12.20 & 8.3 & 165 \\\$ 1.60 & 0.9 & 85 \\\$ 8.10 & 4.6 & 207 \\\$ 4.00 & 3.4 & 150\end{array}$$
-Refer to Exhibit 14-1. Add the second explanatory variable (distance shipped) to the regression model. Estimate and interpret the slopes of this expanded model.