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. Below is the regression output: The degrees of freedom for the F test on whether the number of load applications recorded affects the amount of time are Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.9447 0.8924 0.8886 0.3342 30 ANOVA df SS MS F Significance 25.9438 232.2200 4.3946E-15 Regression Residual Total 25.9438 3.1282 28 0.1117 29 29.072 t Stat P-value Lower 95% Upper 95% Standard Error Coefficients 0.0030 0.1492 0.6555 0.4024 0.0126 0.1236 3.2559 Intercept Applications Recorded 0.0008 15.2388 0.0000 0.0109 0.0143
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. Below is the regression output: The degrees of freedom for the F test on whether the number of load applications recorded affects the amount of time are Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.9447 0.8924 0.8886 0.3342 30 ANOVA df SS MS F Significance 25.9438 232.2200 4.3946E-15 Regression Residual Total 25.9438 3.1282 28 0.1117 29 29.072 t Stat P-value Lower 95% Upper 95% Standard Error Coefficients 0.0030 0.1492 0.6555 0.4024 0.0126 0.1236 3.2559 Intercept Applications Recorded 0.0008 15.2388 0.0000 0.0109 0.0143
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
Topic Video
Question

Transcribed Image Text:1-
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. Below is the
regression output:
The degrees of freedom for the F test on whether the number of load applications recorded affects the amount of
time are
Regression Statistics
Multiple R
R Square
Adjusted R
Square
Standard
0.9447
0.8924
0.8886
0.3342
Error
Observations
30
ANOVA
Significance
F
df
SS
MS
F
25.9438
25.9438
232.2200
4.3946E-15
Regression
Residual
28
3.1282
0.1117
Total
29
29.072
P-value
Lower 95%
Upper 95%
Standard
Error
Coefficients
t Stat
0.4024
0.1236
3.2559
0.0030
0.1492
0.6555
Intercept
Applications
Recorded
0.0126
0.0008
15.2388
0.0000
00109
0.0143
28, 1
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 3 steps with 3 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.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