Math

StatisticsQ&A LibraryThe manager of the purchasing department of a large saving and loan organization would like todevelop a model to predict the amount of time (measured in hours) it takes to record a loanapplication. Data are collected from a sample of 30 days, and the number of applications recorded andcompletion time in hours is recorded. Below is the regression output:Regression StatisticsMultiple RR SquareAdjusted RSquareStandard0.94470.89240.88860.3342ErrorObservations30ANOVAMSSignificancedfSS4.3946E-15Regression25.9438 25.9438232.2200Residual283.12820.1117Total2929.072CoefficientsStandardP-valueLower 95%t StatUpper 95%Error0.1492InterceptApplicationsRecorded0.40240.12363.25590.00300.65550.01430.01260.000815.23880.00000.0109Question

Asked Dec 15, 2019

1 views

Referring to the above scenario, interpret the coefficient attached to variable applications recorded:

** **

** **

Referring to the above scenario, interpret R Square:

Referring to the above scenario, interpret the F-statistic in the ANOVA analysis:

Referring to above scenario, predict the amount of time it would take on average to process 150 invoices:

Step 1

From the regression output, the coefficient of application recorded is 0.0126.

Interpretation:

The slope 0.0126 indicates that for each additional application recorded the mean amount of time will increase by 0.0126 hours.

Step 2

R-square:

The value of R-square is 0.8924.

There is 89.24% of variability in the amount of time can be explained by the number of applications recorded.

Step 3

From the regression output, the *F* test statistic is 232.2200 and the p-value is 0.0000.

Consider the significance level is 0.05. Here, the p-value is too small compared to s...

Tagged in

Find answers to questions asked by student like you

Show more Q&A

Q: Question Help The ages (in years) of 10 men and their systolic blood pressures (in millimeters of me...

A: Step-by-step procedure to obtain the correlation using Excel Mega stat is as follows:Choose MegaStat...

Q: The time that it takes a randomly selected job applicant to perform a certain task has a distributio...

A: The given information is that, time taken by a randomly selected job applicant to perform a certain ...

Q: Answer the whole page for number eight please.

A: The null and the alternative hypotheses are given below:H0: The mean assembly time taken by two me...

Q: Preform the indicated goodness-of-fit test. you roll a die 48 times with the following results. Use ...

A: The hypothesis can be constructed as:Null hypothesis, H0: The die is fair.Alternative hypothesis, Ha...

Q: A survey of recent high school graduates regarding literature that they studied during their high sc...

A: Let W denote graduates who read gone with the wind, M denote graduates who read Moby Dick and F deno...

Q: For a normally distributed population with a mean of 35 and a standard deviation of 7.5 find P(X >...

A: Given dataMean = 35Standard deviation = 7.5

Q: Annual starting salaries for college graduates with degrees in business administration are generally...

A: Click to see the answer

Q: Please answer number 7.

A: The appropriate null and alternative hypotheses are shown below:H0: p1 = p2.Ha: p1 > p2.

Q: In a certain city the monthly water bill amount is normally distributed with the mean 25 and standar...

A: Given data normally distributed with mean of 25 and standard deviation of 15.Now,Sample mean is equa...