Concept explainers
Videos
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 and whether there is an elevator in the apartment building as the independent variables and has collected data for 36 movers in which the origin and destination were within the borough of Manhattan in New York City and the travel time was an insignificant portion of the hours worked. The data are organized and stored in Moving. For (a) through (k), do not include an interaction term.
a. State the multiple regression equation for predicting labor hours, using the number of cubic feet moved and whether there is an elevator.
b. Interpret the regression coefficients in (a).
c. Predict the mean labor hours for movie 500 cubic feet in an apartment building that has an elevator and construct a
d. Perform a residual analysis on the model and determine whether the regression assumptions are valid.
e. Is there a significant relationship between labor hours and the two independent variables (cubic feet moved and whether there is an elevator in the apartment building) at the 0.05 level of significance?
f. At the 0.05 level of significance, determine whether each inde- pendent variable makes a contribution to the regression model. Indicate the most appropriate regression model for this set of data.
g. Construct a
h. Construct a
i. Compute and internet the adjusted
j. Compute and coefficients of partial determination and interpret their meaning.
k. What assumption do you need to make about the slope of labor hours with cubic feet moved?
l. Add an interaction term to the model, and at the 0.05 level of significance, determine whether it makes a significant contribution to the model.
m. On the basis of the result of (f) and (l), which is most appropriate? Explain.
n. What conclusions can you reach concerning the effect on the number of cubic feet moved and whether there is an elevator on labour hours?
Want to see the full answer?
Check out a sample textbook solution
Chapter 14 Solutions
EBK BASIC BUSINESS STATISTICS
- (c) Utilize Fubini's Theorem to demonstrate that E(X)= = (1- F(x))dx.arrow_forward(c) Describe the positive and negative parts of a random variable. How is the integral defined for a general random variable using these components?arrow_forward26. (a) Provide an example where X, X but E(X,) does not converge to E(X).arrow_forward
- (b) Demonstrate that if X and Y are independent, then it follows that E(XY) E(X)E(Y);arrow_forward(d) Under what conditions do we say that a random variable X is integrable, specifically when (i) X is a non-negative random variable and (ii) when X is a general random variable?arrow_forward29. State the Borel-Cantelli Lemmas without proof. What is the primary distinction between Lemma 1 and Lemma 2?arrow_forward
Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
Linear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning