Purchase Solution

Regression Modeling for Time to Process Invoices

Not what you're looking for?

Ask Custom Question

See data file attached.

The manager of the purchasing department of a large banking organization would like to develop a model to predict the amount of time it takes to process invoices. Data are collected from a sample of 30 days, and the number of invoices processed and completion time, in hours, is stored in the file invoice.xls. This file can be found in the Resources section of this syllabus.

1. Assuming a linear relationship, use the least squares method to compute the regression coefficients b0 and b1.
2. Interpret the meaning of the Y intercept, b0, and the slope, b1, in this problem. Make your answer is comprehensive.
3. Determine the coefficient of determination, r2, and interpret its meaning.
4. Compute the Durbin Watson statistic and, at the .05 level of significance, determine whether there is any autocorrelation in the residuals.
5. Based on the results of (1) through (4), what conclusions can you reach concerning the validity of the model? Make sure your answer is comprehensive.
6. At the 95% confidence level, is there evidence of a linear relationship between the amount of time and the number of invoices processed? On what basis did you make your decision?
7. Construct a 95% confidence interval estimate of the mean amount of time it would take to process 150 invoices.
8. Construct a 95% prediction interval of the amount of time it would take to process 150 invoices on a particular day.

Please copy and paste your statistical output and answers in a word processing file.

Attachments
Purchase this Solution
Solution Summary

The solution discusses regression modeling for time to process invoices for a large organization.

Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

View More Free Quizzes
Related BrainMass Solutions

  • Modeling to predict time it takes to process invoices

    321149 Regression Modeling to predict time it takes to process invoices for large bank See attached data file.

  • Regression Analysis

    329657 Regression Analysis for large bank to develop model to predict time to process invoices See data file attached.

  • Regression

    178501 Regression The manager of the purchasing department of a large banking organization would like to develop a model to predict the amount of the time it takes to process invoices.

  • Beta Value & Regression Analysis

    13.79 An accountant for a large department store would like to develop a model to predict the amount of time it takes to process invoices.

  • Regression

    Hope this can help you understand the regression analysis. Good luck to your future studies. Changping Regression equations for the number of invoices per month are determined. A graph is used to understand the regression analysis.

  • Regression Analysis - Operational Management

    241019 Regression Analysis Modeling - Operational Management This is a problem #13, chapter 9 - Regression Analysis, from the textbook by Cliff Ragsdale, "Spreadsheet Modeling and Decision Analysis".

  • Database Design

    For example, there may be many invoices for a given customer (but each invoice has only a single customer), so in this sense the business rules look likely to govern our use of indexes in the tables representing these objects (namely, invoices and customers

  • Research on investor perception as a consumer

    A multiple regression model may be used to determine the impact of these variable on consumer purchase decision.

  • Economic modeling and forcasting future events

    For example, we don't know what global warming is going to do to the economy. Luckily, most of the things we need to model are things that have recently occurred. This solution discusses economic modeling and forecasting future events.

View More Related Solutions