Academic Integrity: tutoring, explanations, and feedback — we don’t complete graded work or submit on a student’s behalf.

3.An accountant for a large department store would like to develop a model to pr

ID: 3374630 • Letter: 3

Question

3.An accountant for a large department store would like to develop a model to predict the amount of time it takes to process invoices. Data are collected from the 30 working days and the number of invoices processed and completion time (in hours) are used to obtain the following PHStat output. 1. The value of the t-test statistic to test whether time is linearly dependent on the number of invoices to be processed is? 2. The value of the coefficient of determinations is? 3. TThe accountant is expected to work an additional 0.013 hours (less than a minute) to process an additional invoice. True or false? 4 The value of the standard error of the estimated regression model is?

SUMMARY OUTPUT

Regression Statistics

Multiple R

0.945

R Square

0.892

Adjusted R Square

0.889

Standard Error

0.334

Observations

30

ANOVA

df

SS

MS

F

Significance F

Regression

1

25.944

25.944

232.220

4.3946E-15

Residual

28

3.128

0.112

Total

29

29.072

Coefficients

Standard Error

t Stat

P-value

Intercept

0.402

0.124

3.256

0.003

Invoices Processed

0.013

0.001

15.239

0.000


SUMMARY OUTPUT

Regression Statistics

Multiple R

0.945

R Square

0.892

Adjusted R Square

0.889

Standard Error

0.334

Observations

30

ANOVA

df

SS

MS

F

Significance F

Regression

1

25.944

25.944

232.220

4.3946E-15

Residual

28

3.128

0.112

Total

29

29.072

Coefficients

Standard Error

t Stat

P-value

Intercept

0.402

0.124

3.256

0.003

Invoices Processed

0.013

0.001

15.239

0.000


Explanation / Answer

Solution :-

1)

From the given output,

The t - value correspoding to the Invoice Processed row = 15.239

Hence,

t-test statistic to test whether time is linearly dependent on the number of invoices to be processed

= 15.239

2)

Value of coefficient of determination

= R - square value given in the output

= 0.892

3)

The statement that the accountant is expected to work an additional 0.013 hours (less than a minute) to process an additional invoice is True.

This is because the coefficient of Invoices processed is0.013 which means that in order to process an additional invoice, the accountant would have to work an additional 0.013 hours.

4)

The value of standard error of estimated regression model is 0.334

Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
Chat Now And Get Quote