Instruction 12-12
the Manager of the Purchasing Department of a Large

question 89

Multiple Choice

Instruction 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:
$$\begin{array}{l}\begin{array} { l r } \hline { \text { Regression Statistics } } \\\hline \text { Multiple R } & 0.9447 \\\text { R Square } & 0.8924 \\\text { Adjusted R } & 0.8886 \\\text { Square } & \\\text { Standard } & 0.3342 \\\text { Error } & 30 \\\text { Observations } & \\\hline\end{array}\\\text { ANOVA }\\\begin{array} { l r r r r r } \hline & d f & { \text { SS } } & { \text { MS } } & F & { \begin{array} { c } \text { Significance } \\F\end{array} } \\\hline \text { Regression } & 1 & 25.9438 & 25.9438 & 232.2200 & 4.3946 \mathrm { E } - 15 \\\text { Residual } & 28 & 3.1282 & 0.1117 & & \\\text { Total } & 29 & 29.072 & & & \\\hline\end{array}\\\begin{array} { l r r r r r r } \hline & \text { Coefficients } & \begin{array} { c } \text { Standard } \\\text { Error }\end{array} & t \text { Stat } & P \text {-value } & \text { Lower 95\% } & \text { Upper 95\% } \\\text { Intercept } & 0.4024 & 0.1236 & 3.2559 & 0.0030 & 0.1492 & 0.6555 \\\text { Applications RECORD } & 0.0126 & 0.0008 & 15.2388 & 4.3946 \mathrm{E}-15 & 0.0109 & 0.0143\\\hline\end{array}\end{array}$$ Note: 4.3946E-15 is 4.3946 x 10^-15.

-Referring to Instruction 12-12,the degrees of freedom for the F test on whether the number of loan applications recorded affects the amount of time are

• A)1,29.
• B)29,1.
• C)1,28.
• D)28,1.

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Definitions:

Excise Tax

A tax imposed on specific goods, services, or transactions, often with the goal of reducing consumption of certain products or generating revenue.

Government Expenditures

Spending by the government sector on goods and services, including infrastructure, public services, and transfer payments.

Net Taxes

The difference between the taxes paid to the government and the transfers or subsidies received from it.

Government Purchases

Government purchases involve the spending by government entities on goods and services, including investments in public infrastructure, which can influence economic activity.