Instruction 12 $\text { Regression statistics }$ $\text { ANOVA }$

question 163

True/False

Instruction 12.26
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:
$\text { Regression statistics }$
$\begin{array}{|l|l|}\hline\text { MultipleR } & 0.9447 \\\hline \text { R Square } & 0.8924 \\\hline \begin{array}{l}\text { Adjusted R } \\\text { Square }\end{array} & 0.8886 \\\hline \text { Standard Error } & 0.3342 \\\hline \text { Observations } & 30 \\\hline\end{array}$

$\text { ANOVA }$
$\begin{array}{|l|l|l|l|l|l|}\hline & d f & S 5 & M S & F & \begin{array}{l}\text { Significance } \\F\end{array} \\\hline \text { Regression } & 1 & 25.9438 & 25.9438 & 232.2200 & 4.3946 \mathrm{E}-15 \\\hline \text { Residual } & 28 & 3.1282 & 0.1117 & & \\\hline \text { Total } & 29 & 29.072 & & & \\\hline\end{array}$

$\begin{array}{|l|l|l|l|l|l|l|}\hline & \text { Coefficients } & \begin{array}{l}\text { Standard } \\\text { Error }\end{array} & \text { tStat } & \text { p-value } & \text { Lower 95\% } & \text { Upper 95\% } \\\hline \text { Intercept } & 0.4024 & 0.1236 & 3.2559 & 0.0030 & 0.1492 & 0.6555 \\\hline \begin{array}{l}\text { Applications } \\\text { Recorded }\end{array} & 0.0126 & 0.0008 & 15.2388 & \begin{array}{l}4.3946 \mathrm{E}- \\15\end{array} & 0.0109 & 0.0143 \\\hline\end{array}$



Note: 4.3946E-15 is 4.3946 × 10^-15.
-Referring to Instruction 12.26,there is no evidence of positive autocorrelation if the Durbin-Watson test statistic is found to be 1.78.

---

Definitions:

Southern Democrats

A political faction that represented the interests of the southern United States before the Civil War, advocating for states' rights and the extension of slavery.

Civil Rights

The rights of citizens to political and social freedom and equality, often protected by law against discrimination and other injustices.

New Deal

A collection of initiatives that included programs, public work schemes, monetary reforms, and policies introduced by President Franklin D. Roosevelt in the United States through the 1930s aimed at assisting the nation in its recovery from the Great Depression.

Political Relations

The interactions, negotiations, and alliances between different political entities, such as countries, parties, or governments, often involving power dynamics.