SCENARIO 13-12 The Manager of the Purchasing Department of a Large Saving

question 183

True/False

SCENARIO 13-12
The manager of the purchasing department of a large saving and loan organization would like to develop a model to predict the amount of time (measured in hours) it takes to record a loan application. Data are collected from a sample of 30 days, and the number of applications recorded and completion time in hours is recorded. Below is the regression output:




-Referring to Scenario 13-12,you can be 95% confident that the mean amount of time needed to record one additional loan application is somewhere between 0.0109 and 0.0143 hours.

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