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