The owner of a moving company typically has his most experienced manager predict
ID: 3316677 • Letter: T
Question
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. In an effort to provide a more accurate method, the owner has decided to use the number of cubic feet moved as the independent variable and has collected data for 20 moves in which the travel time was an insignificant portion of the hours worked.
Cubic Feet Moved Labor Hours
490 19.50
392 13.75
335 14.50
345 12.75
661 26.50
616 21.75
636 25.25
516 17.75
277 6.50
273 10.50
529 22.50
323 14.75
821 33.50
732 31.75
718 26.00
789 30.00
805 34.50
801 29.50
401 14.75
384 11.00
Assuming a linear relationship, use the least-squares method to determine the regression coefficients
b0 and b1. (round to three decimal places)
Explanation / Answer
The Regression eq is
y=a+bx
from Excel
y=-2.086+0.042* cubic feet
slope =b1=0.042
intercept=b0= -2.086
SUMMARY OUTPUT Regression Statistics Multiple R 0.970066 R Square 0.941028 Adjusted R Square 0.937751 Standard Error 2.108756 Observations 20 ANOVA df SS MS F Significance F Regression 1 1277.257 1277.257 287.2272 1.64E-12 Residual 18 80.04331 4.446851 Total 19 1357.3 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept -2.08646 1.433153 -1.45585 0.162654 -5.0974 0.924483 -5.0974 0.924483 Cubic Feet 0.042303 0.002496 16.94778 1.64E-12 0.037059 0.047547 0.037059 0.047547Related Questions
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