Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Classical Mechanics

Authors: R Douglas Gregory

1st Edition

0511159242, 9780511159244

More Books

Students also viewed these Mathematics questions

Question

How can the grocery store you use improve its inventory management?

Answered: 1 week ago

Question

1. What is the difference between exempt and nonexempt jobs?pg 87

Answered: 1 week ago