TABLE 12-12 The Manager of the Purchasing Department of a Large Savings

question 97

Multiple Choice

TABLE 12-12
The manager of the purchasing department of a large savings 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 x 10-15.


-Referring to Table 12-12, the p-value of the measured t test statistic to test whether the number of loan applications recorded affects the amount of time is ________.

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Definitions:

Lien

A legal right or claim against a property, typically used as security for a debt or loan, ensuring payment.

Satisfy Debt

To fully pay off or settle a debt, meeting the terms agreed upon by the debtor and creditor.

Equipment

Equipment consists of the necessary tools, machinery, devices, or any tangible items required for the specific purpose of executing a task or activity.

Mortgage Insurance

An insurance policy designed to protect the lender from the risk of the borrower defaulting on a mortgage.