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Question 2 A retail company has information on The time Taken (in days} To fulfill on order, The value of The order (in $10000), the
Question 2 A retail company has information on The time Taken (in days} To fulfill on order, The value of The order (in $10000), the number of different types of products in The order, and The store location, The data are shown in the following table, Table 2; Data on Time To Fulll Order Time Value Number of Location Time Value Number of Location Products Products 12 42 35 C 13 45 3 8 A 14 51 58 A 8 43 42 C 10 40 30 C 15 46 46 C 16 54 65 A 19 65 80 A 21 85 88 B 2 2 80 65 B 18 50 70 C 16 55 60 A 26 93 88 B 20 70 80 C 22 96 90 B 24 92 75 B 10 35 30 C 21 88 80 A 17 55 62 A 2 3 90 70 B 15 48 65 A 21 92 85 B 14 45 40 C 17 52 55 C 16 50 62 A 13 38 46 C 24 85 95 B 18 54 64 A 20 91 84 B 24 90 80 A a) (5 points) Find a simple regression model that predicts time to fulfill an order based on value of the order. Interpret the estimated model coefficients. b) (4 points) What is the estimated standard deviation of the error component? c) (10 points) Is there evidence to conclude that value of the order is a useful predictor? Test using a:0.01. d) (6 points) You decide to develop a regression model using order value and the number of products in the order as predictors. Find the model equation. e) (10 points) Is the predictor, number of products, significant in the presence of the other predictor? Test using $0.05
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