A retail company has information on the time taken (in days) to fulfill an order, the value
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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 12-13.
(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.
(c) What are the values of R2 and R2a ? Interpret them.
(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).
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Related Book For
Fundamentals Of Quality Control And Improvement
ISBN: 9781119692331
5th Edition
Authors: Amitava Mitra
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