Please see the below case information. Please exaplain what the Excel regression

Question

Please see the below case information. Please exaplain what the Excel regression analysis means in regards to the case. Thanks

Bulter Trucking Company

A major portion of Bulter's business involves deliveries throughout its local area. To develop better work schedules, the managers want to predict the total daily travel time for their drivers. Initially the managers believed that the total daily travel time would be closely related to the number of miles traveled in making the daily deliveries. See the random sample:

12.54975

Driver Miles Deliveries Left Turns Time 1 90 3 9 15.58477 2 92 5 10 15.52988 3 53 4 7 9.035073 4 66 2 7 9.689488 5 97 2 8 15.50004 6 82 5 4 14.02926 7 86 6 9 17.14598 8 75 3 2 9.90187 9 95 5 8 18.84275 10 50 5 8 9.96034 11 59 4 5 9.154097 12 81 3 10 13.63391 13 60 3 6 8.671543 14 67 3 9 10.99296 15 76 4 5 11.71698 16 79 2 8 13.22408 17 77 5 9 13.88051 18 51 6 9 11.07436 19 59 3 10 9.325663 20 100 2 5

12.54975

SUMMARY OUTPUT Regression Statistics Multiple R 0.958843 R Square 0.91938 Adjusted R Square 0.904264 Standard Error 0.924166 Observations 20 ANOVA df SS MS F Significance F Regression 3 155.8381 51.94603 60.82084 5.74E-09 Residual 16 13.66533 0.854083 Total 19 169.5034 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept -5.77095 1.400111 -4.12178 0.000799 -8.73906 -2.80285 -8.73906 -2.80285 Miles 0.165687 0.013552 12.22587 1.57E-09 0.136957 0.194416 0.136957 0.194416 Deliveries 0.873754 0.164456 5.312985 7E-05 0.525122 1.222385 0.525122 1.222385 Left Turns 0.348847 0.096548 3.613209 0.002333 0.144175 0.553519 0.144175 0.553519

Explanation / Answer

Answer

the output data table shows that the p value corresponding to the miles, deliveries and left turns are 1.57E-09, 7E-05 ad 0.002333 respectively.

All the three p values are less than 0.05 significance level, which means that at 0.05 significance level, we can conclude that there is linear dependency between the dependent variable total daily time and independent variables miles, deliveries and left turns.

We can say that the result is significant and there is significant relationship between total daily time and variables miles, deliveries and left turns.

Coefficient of correlation is 0.9194, which shows that there is a strong positive between dependent variable and independent variables.

F statistic is also significant at 0.05 as the p value corresponding to the calculated F statistic is 5.74E-09.

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