The owner of a moving company typically has his most experienced manager predict

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 a 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. Using the least-squares method on this data finds that b_0 = 0.4283 and b_1 = 0.0534, and that the predicted labor hours for moving 400 cubic feet is 21.79 hours. Complete parts (a) through (c) below.

Explanation / Answer

x: Cubic feet as independent variable

y: Labor Hours as dependent variable

we fit the regression for the given set of data using least square and level of significance is 95 % using data analysis tool in Excel. Result is as follows ;

The regression equations is

Labour Hours = 2.364 + 0.051 * Cubic Feet ..............................................(i)

now we calculate the labour hour when cubic feet is 400.

from equation (i)

labour hour = 2.364 + 0.051 * 400 = 22.764

Regression Statistics Multiple R 0.9658 R Square 0.9328 Adjusted R Square 0.9291 Standard Error 2.7513 Observations 20 ANOVA df SS MS F Significance F Regression 1 1891.98 1891.98 249.94 0.00 Residual 18 136.25 7.57 Total 19 2028.24 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 2.364 1.941 1.218 0.239 -1.714 6.443 Cubic feet 0.051 0.003 15.810 0.000 0.044 0.058

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