Predict the mean labor hours for moving 500 cubic

Assignment Help Business Economics
Reference no: EM133126556

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 the number of pieces of large furniture as the independent variables and has collected data for 36 moves 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 were organized and stored in Moving.

a. State the multiple regression equation and interpret the meaning of the slopes in this equation.

b.  Predict the mean labor hours for moving 500 cubic feet with two large pieces of furniture.

c.  Determine whether there is a significant relationship between labor hours and the two independent variables at the 0.05 level of significance? Explain.

d. At the 0.05 level of significance, determine whether each independent variable makes a significant contribution to the regression model. Explain.

e. Construct a 95% confidence interval estimate of the population slope between labor hours and the number of cubic feet moved.

f. What conclusions can you reach concerning labor hours?

Hours

Feet

Large

Elevator

24.00

545

3

Yes

13.50

400

2

Yes

26.25

562

2

No

25.00

540

2

No

9.00

220

1

Yes

20.00

344

3

Yes

22.00

569

2

Yes

11.25

340

1

Yes

50.00

900

6

Yes

12.00

285

1

Yes

38.75

865

4

Yes

40.00

831

4

Yes

19.50

344

3

Yes

18.00

360

2

Yes

28.00

750

3

Yes

27.00

650

2

Yes

21.00

415

2

No

15.00

275

2

Yes

25.00

557

2

Yes

45.00

1028

5

Yes

29.00

793

4

Yes

21.00

523

3

Yes

22.00

564

3

Yes

16.50

312

2

Yes

37.00

757

3

No

32.00

600

3

No

34.00

796

3

Yes

25.00

577

3

Yes

31.00

500

4

Yes

24.00

695

3

Yes

40.00

1054

4

Yes

27.00

486

3

Yes

18.00

442

2

Yes

62.50

1249

5

No

53.75

995

6

Yes

79.50

1397

7

No

Reference no: EM133126556

Questions Cloud

Budget-balancing prison change : Consider a state with a fixed prison capacity. The state (i) increased the average prison term from 5 years to 6 years and (ii) decreased the probability of bei
Identify and prioritise nursing interventions : Identify and prioritise nursing interventions and perform nursing care to Mrs Meng as per the care plan. You must plan and adjust nursing interventions
Preconditions for successful technology transfer : The author argued that "the time has come for jamaicans to take didigal literacy seriously and moved forward as a digital society." Describe FOUR 4 precondition
Compare with the education signaling models : Suppose that a delivery person named Clifford (player 2) is to deliver a package to a house with a chihuahua (player 1) in the yard. The yard around the house i
Predict the mean labor hours for moving 500 cubic : 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 m
Determine priorities and potential areas of risk : Determine priorities and potential areas of risk for implementation of primary health care for Mr Simon - Identify possible nursing interventions
Determine the economic order quantity : Annual carrying costs are 3% of the purchase price of $3,793.11 per ton. A lead time of four weeks is available. Determine the economic order quantity
What is the compounded rate of return : An investor invested RM2,000.00 per month at the beginning of every month in a unit trust fund for 5 years. What is the compounded rate of return
Philosophical tenet underpinning primary health care setting : Briefly describe the philosophical tenet underpinning primary health care setting and Complete the following table briefly outlining the health challenges

Reviews

Write a Review

Business Economics Questions & Answers

  Federal budget of the united states

1. What were three pillars (priorities/areas of importance) of the 2020 fiscal budget?

  What is the relationship between good x and good z

Based on the supply curve above, what is the relationship between good X and good Z?

  Illustrate what happens to money supply-interest rates

Illustrate what happens to money supply, interest rates and economy in general if Federal Reserve is a net seller of government bonds.

  What is the optimal club membership

State and briefly explain the efficiency conditions for a club having members with identical utility functions.

  Portion of employee retirement fund

A concrete and building materials company is trying to bring the company funded portion of its employee retirement fund into compliance with HB-301.

  Elucidate what production level are scale economies exhaust

Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies. Elucidate what production level are scale economies exhausted.

  A problem with cost-benefit analysis

A problem with Cost-Benefit Analysis is that. The role of the government as a provider of health care. Two events that were most effective in bringing about licensure of physicians were

  Calculate the frictional unemployment rate

At the same? time, every month during the? year, 37 different people become? unemployed, and 37 other people who were unemployed find jobs.

  Develop clear recruitment

In approximately 200 words explain why it is necessary to develop clear recruitment, selection and induction policies. Use the information in this manual and your own experience or research to answer the question.

  The changes on the bank of america balance sheet

Suppose that a lottery winner deposits $5 million in cash into her transactions account at the Bank of America. Assume a reserve requirement of 20 percent and no excess reserves in the banking system prior to this deposit. Show the changes on the Ban..

  What is human resource planning

What is human resource planning and how it is linked to organisation achievement within an organisation?

  Discuss the conditions that lead to the freedom with fences

Discuss the conditions that lead to the “freedom with fences” (the ability to be innovative and creative within certain prescribed boundaries) organization. Can the “fences” stall the very ideal the executive seeks to achieve? And if we cannot train ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd