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An accountant for a large department store has the business objective of developing a model to predict the amount of time it takes to process
An accountant for a large department store has the business objective of developing a model to predict the amount of time it takes to process invoices. Data are collected from the past 32 working days, and the number of invoices processed and completion time (in hours) are recorded, with the accompanying results. Complete parts (a) through (h) below. Click the icon to view the invoice data, a. Assuming a Tnear relationship, use the least-squares method to compute the regression coefficients by and by [Round to three decimal places as needed. ) b, Interpret the meaning of the by. In this problom slope, Interpret the slope, il appropriate. Choose the correct answer below A. It is not appropriate to interpret the slope because it is outside the range of observed completion times. OB." The slope indicates that for each additional invoice, the completion time is estimated to increase by a number of hours equal to by Q.C. Bis nel appropriate to interpret the slope because it is outside the range of observed numbers of Invoices. D. The slope indicates that for each additional hour of completion time, the number of invoices is estimated to increase by a value equal to by ctorAn accountant for a large department store has the business objective of developing a model to predict the amour of time it takes to process invoices, Data are collected from the past 32 working days, and the number of invoices processed and completion time (in hours) are recorded, with the accompanying rosults, Complete parts (a) through (h) below TH Click the icon to view the invoice data. c. Use the prediction line developed in (a) to predict the mean amount of time It would take to process 160 invoices. Y = hours [Round to three decimal places as needed ) d. Compute the coofficiant of determination, r", and interpret its meaning. Select the comet cholog below and fill in the answer box within your choice (Round to three decimal places as needed ] O A. The coefficient of determination is = This value is the proportion of variation in number of invoices that is explained by the varian un in completion time O B. The con lent of determination lar= This value is the probability that the slope of the regression line is statistically significant 2 6. The confficlent of determination is 'This value is the probablety that the correlation between the variables is statistically significantAn accountant for a large department store has the business objective of developing a model to predict the amount of time it takes to process involes. Data are collected from the past 32 working days, and the number of involces processed and completion time (in hours) are recorded. with the accompanying results. Complate parts (a) through (h) below TH Click the Icon to view the Invoice data. Y = hours "Found to three decimal places as needed) d. Compute the coefficient of determination, ro, and Interpret its meaning Select the correct choice below and iill in the andever box within your choice Round to three decimal places as needed ) Q A. The coefficient of determination is r= This value is the proportion of variation in number of invoices that is explained by the variation in completion time B. The coolliciant of determination isThis value is the probability that the slope of the regression Wine Is statistically significant. O C. The coofficiant of determination Is r This value is the probability that the correlation between the variables Is statistically significant DID. The coefficient of determination is r = This value is the proportion of warlation in completion time that i explained by the variation in number of invoices
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