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...

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 4 13754.6 0. Residual 127 2836.6 Total 131 16591.3 Figure 1: Partial Regression Output 4. What is the R and adjusted R2 of the model?