Curry Rubber manufactures rubber bands for retail companies. The accounting manager has performed a regression analysis of past data. You notice that the formula has an R-squared of .6, a t-value of...

Curry Rubber manufactures rubber bands for retail companies. The accounting manager has performed a regression analysis of past data. You notice that the formula has an R-squared of .6, a t-value of 2.3, and a standard error of the estimate of $200,000. The estimate for next quarter costs is $2,584,072. What do these statistics tell you about the reliability and precision of his regression analysis?