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 Tables 13-8.

Table in 13.8

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

What is the estimated standard deviation of the error component? Interpret it

• What are the values of R² and R²_a? Interpret them.
• Is there evidence to conclude that value of the order is a useful predictor? Test using α = 0.01.

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

Transcribed Image Text:

TABLE 13-8 Data on Time to Fulfill Order Number of Number of Time Value Products Location Time Value Products Location 12 42 35 13 45 38 14 51 58 A 8. 43 42 10 40 30 15 46 46 16 54 65 A 19 65 80 21 85 88 B 22 80 65 18 50 70 16 55 60 26 93 88 20 70 80 22 96 90 B 24 92 75 10 35 30 21 88 80 A 17 55 62 23 90 70 B 15 48 65 21 14 45 40 17 52 16 50 62 13 38 46 24 85 95 B. 18 54 64 20 91 84 B. 24 90 80 A