Business Statistics: A First Course (8th Edition)
8th Edition
ISBN: 9780135177785
Author: David M. Levine, Kathryn A. Szabat, David F. Stephan
Publisher: PEARSON
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The owner of a moving company typically has their most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. The approach has proven useful in the past, but the owner has their business objective of developing a more accurate method of predicting labor hours. In a preliminary effort to provide a more accurate method, the owner has decided to use the number of cubic feet moved as the independent variable and has collected data for 36 moves. The data is seen below:
Hours
Feet
24.00
545
13.50
400
26.25
562
25.00
540
9.00
220
20.00
344
22.00
569
11.25
340
50.00
900
12.00
285
38.75
865
40.00
831
19.50
344
18.00
360
28.00
750
27.00
650
21.00
415
15.00
275
25.00
557
45.00
1028
29.00
793
21.00
523
22.00
564
16.50
312
37.00
757
32.00
600
34.00
796
25.00
577…
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. This approach has proved useful in the past, but the owner has the business objective of developing a more accurate method of predicting labor hours. In a preliminary effort to provide a more accurate method, the owner has decided to use the number of cubic feet moved as the independent variable and has collected data for 36 moves in which the origin and destination were within the borough of Manhattan in New York City and in which the travel time was an insignificant portionof the hours worked. The intercept for the sample regression line that the owner has computed is -2.24 and the slope is 0.03.
What is the predicted number of labor hours for moving 484 cubic feet?
Hint: Provide your answer accurate to 2 decimal places.
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. This approach has proved useful in the past, but the owner has the business objective of developing a more accurate method of predicting labor hours. In a preliminary effort to provide a more accurate method, the owner has decided to use the number of cubic feet moved as the independent variable and has collected data for 36 moves in which the origin and destination were within the borough of Manhattan in New York City and in which the travel time was an insignificant portion of the hours worked. If the sum of squares Y is 1,513.32 and the sum of squares error is 176.22.
What proportion of variation in labor hours is explained by the number of cubic feet moved?
Hint: Provide answer accurate to 4 decimal places.
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