The manager of the purchasing department of a large saving 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. Attached below is the regression output. What is the value of the measured t-test statistic to test whether the amount of time depends linearly on the number of loan applications recorded? Question content area bottom Part 1 A. 15.2388 B. 3.2559 C. 232.2200 D. 0.8924
The manager of the purchasing department of a large saving 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. Attached below is the regression output. What is the value of the measured t-test statistic to test whether the amount of time depends linearly on the number of loan applications recorded? Question content area bottom Part 1 A. 15.2388 B. 3.2559 C. 232.2200 D. 0.8924
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
The manager of the purchasing department of a large saving 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. Attached below is the regression output. What is the value of the measured t-test statistic to test whether the amount of time depends linearly on the number of loan applications recorded?
Question content area bottom
Part 1
15.2388
3.2559
232.2200
0.8924

Transcribed Image Text:Applications residuals plot
Applications Recorded Residual Plot
0.8
0.6
0.4
Residuals 0.2
-0.2
-0.4
-0.6
-0.8
50
100
150
200
250
300
350
Loan Applications Recorded
Print
Done

Transcribed Image Text:Regression output
Regression Statistics
Multiple R
R Square
Adjusted R
Square
0.9447
0.8924
0.8886
Standard
0.3342
Error
Observations
30
ANOVA
df
SS
MS
Significance
F
Regression
1
25.9438 25.9438
232.2200 4.3946E-15
Residual
28
3.1282
0.1117
Total
29
29.072
Coefficients Standard
Error
0.1236
t Stat
P-value
Lower 95% Upper 95%
Intercept
Applications
Recorded
0.4024
3.2559
0.0030
0.1492
0.6555
0.0126
0.0008 15.2388
0.0000
0.0109
0.0143
Print
Done
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps

Recommended textbooks for you

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON

The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman