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

question 115

True/False

TABLE 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:

Note: 4.3946E-15 is 4.3946 ×



-Referring to Table 13-12, there is sufficient evidence that the amount of time needed linearly depends on the number of loan applications at a 5% level of significance.

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Definitions:

Rock Salt

A sedimentary rock composed primarily of sodium chloride, forming from the evaporation of seawater and used in various applications including road de-icing and as a seasoning.

Dried Up Lake Bed

The base of a former lake that has lost its water content and become dry, often leaving behind salt flats, minerals, or arid land.

Clastic Sediments

Sediments made up of fragments, or clasts, of pre-existing minerals and rock that have been transported and deposited by wind, water, or ice.

Amount Of Sorting

The degree to which sediment particles are of uniform size, which influences the texture and porosity of sedimentary rocks.