Question
ABX Delivery provides the service across all the states in Australia. Marketing manager of this company wants to identify key factors that affect the time
ABX Delivery provides the service across all the states in Australia. Marketing manager of this company wants to identify key factors that affect the time to unload a truck. A random sample of 50 deliveries was observed following data were reported.
Time to unload a truck (in minutes),
total number of cartons and
the total weight (in hundreds of Kilograms).
Following tables shows the regression output of the sample data set.
SUMMARY OUTPUT | |
Regression Statistics | |
Multiple R | 0.836420803 |
R Square | 0.699599759 |
Adjusted R Square | 0.68681677 |
Standard Error | 8.823384264 |
Observations | 50 |
ANOVA | |||||
df | SS | MS | F | Significance F | |
Regression | 2 | 8521.530836 | 4260.765 | 54.72897 | 0.000000 |
Residual | 47 | 3659.049164 | 77.85211 | ||
Total | 49 | 12180.58 |
Coefficients | Standard Error | t Stat | P-value | |
Intercept | -13.669 | 7.829028389 | -1.74599 | 0.087346 |
Cartons | 0.5172 | 0.067246763 | 7.691119 | 0.000000 |
Weight | 0.2901 | 0.11166803 | 2.597671 | 0.012494 |
a) Determine the multiple regression equation
b)Develop hypothesis and assess the independent variables significance at 5% level
c)How well does the model fit the data?
d)Propose minimum of 2 new explanatory variables to the model and discuss the implication of OLS assumptions in regression analysis
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