Find a simple regression model that predicts time

Assignment Help Basic Statistics

Reference no: EM131390381

Refer to given Exercise and the regression model of time to fulfill an order based on order value.

(a) Find a 95% confidence interval for the mean time to fulfill orders that have an order value of $75,000.

(b) Find a 95% prediction interval for the time to fulfill an order for an order of value $75,000. Interpret the difference in the intervals found in parts (a) and (b).

(c) The leverage value for observation 8 is found to be 0.114. Would you consider this observation to have high leverage? Explain.

(d) The studentized residual for observation 17 is found to be 2.840. Using α =0.05, what can you conclude?

(e) The Cook's distance for observation 17is found to be 0.295.What can you conclude?

Exercise
A retail company has information on the time taken (in days) to fulfill an order, the value of the order (in $10,000), the number of different types of products in the order, and the store location. The data are shown in Table.

(a) Find a simple regression model that predicts time to fulfill an order based on value of the order. Interpret the estimated model coefficients.

(b) What is the estimated standard deviation of the error component? Interpret it.

2327_Table 3.jpg

(d) Is there evidence to conclude that value of the order is a useful predictor? Test using α = 0.01.

(e) Interpret the p-value associated with the test in part (d).

Reference no: EM131390381

Questions Cloud

What is the voltage drop across the resistor : A resistor and capacitor are connected in parallel to a 1,000 Hz line. The capacitor has a voltage drop of 200 volts across it. What is the voltage drop across the resistor?

How would you utilize it to make positive change : How would you utilize it to make positive change? What obstacles or barriers might you encounter when making changes to your organization?

Moles of potassium hydroxide : How many moles of potassium hydroxide are needed to completely react with 6.94 moles of aluminum sulfate according to the following equation

Considering the implication of the vserp theory : Considering the implication of the VSERP theory, would you expect a continuos chain of 18 carbon atoms to be truly linear?

Find a simple regression model that predicts time : Find a simple regression model that predicts time to fulfill an order based on value of the order. Interpret the estimated model coefficients.

What is the impedance of the circuit : A resistor with a resistance of 50 ? is connected in parallel with a capacitor with a capacitance of 35 µF. The power source is 60 Hz. What is the impedance of the circuit?

Comment on the relative strengths of biological causes : Comment on the relative strengths of biological causes compared to sociological or individual causes. Consider the types of anorexia nervosa in your argument.Explain any treatment strategies that would support your argument.

Standardized by reaction with pure sodium carbonate : A solution of HNO3 is standardized by reaction with pure sodium carbonate: 2H^+ + Na_2CO_3 ---> 2Na^+ +H_2O + CO_2

Create a script on the jump server : CTS 4348 - Unix System Administration Spring 2017 Assignment. Create a script called setup.sh on the jump server. Make sure the script accepts one argument via the command line and perform the following: install syslog-ng on the remote server passe..

User Account

All Pages