Question

TABLE 12-12 The manager of the purchasing department of a large savings and loan organization would like to develop a model to predict the amount of time (measured in hours) it takes to record a loan application. Data are collected from a sample of 30 days, and the number of applications recorded and completion time in hours is recorded. Below is the regression output: Regression Statistics Multiple R 0.9447 R Square 0.8924 Adjusted R 0.8886 Square Standard 0.3342 Error Observations 30 ANOVA df SS MSF Significance 232 2200 4.3946E-15 Regression Residual Total 1 28 29 25.9438 3.1282 29.072 25.9438 0.1117 Coefficients Staf P value Lower 95% Upper 95% Standard Error 0.1236 0.0008 0.4024 0.0126 3.2559 15 2388 0 .0030 4.3946E-15 0.1492 0.0109 0.6555 0.0143 Intercept Applications Recorded Note: 4.3946E-15 is 4.3946 x 10-15

Answer 1

Given Regression output P-value of the measured t test statistic to test whether the number of loan applications recorded a lects amount of time on P- vower 4.394681015