statistics

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a mathematics professor wishes to analyze the relationship between the number of papers graded by his department's student homework graders an the total amount of money paid to the graders. He collects data for 12 randomly chosen graders and uses MINITAB to do the regression analysis. Below is a portion of the minitab output. (Here, COST= amount paid (dollars), PAPERS = number of papers in hundreds, and the intervals listed at the bottom are computed for 1600 papers.)
Regression equation is COST = 35.8+12.1 PAPERS
Predictor Coed Std.dev t-ratio p
Constant 35.8 17.06 2.1 .062
PAPERS 12.0835 .9738 12.41 .0000

s=6.526 r-sq= 93.9% r-sq(adj)= 93.3%

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