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Question
Connie Harris, in charge of office supplies at First Capital Mortgage Corp., would like to predict the quantity of paper used in the office photocopying machines per month. She believes that the number of loans originated in a month influence the volume of photocopying performed. She has compiled the following recent monthly data:| Number of Loans Originated in Month | Sheets of Photocopy Paper Used (000's) |
| 45 | 22 |
| 25 | 13 |
| 50 | 24 |
| 60 | 25 |
| 40 | 21 |
| 25 | 16 |
| 35 | 18 |
| 40 | 25 |
a. Develop the least-squares estimated regression equation that relates sheets of photocopy paper used to loans originated.
b. Use the regression equation developed in part (a) to forecast the amount of paper used in a month when 42 loan originations are expected.
c. Compute SSE, SST, and SSR.
d. Compute the coefficient of determination r2. Comment on the goodness of fit.
e. Compute the correlation coefficient.
f. Compute the mean square error MSE.
g. Compute the standard error of the estimate.
h. Compute the estimated standard deviation of b1.
i. Use the t test to test the following hypothesis ï¢1= 0 at ï¡= .05.
j. Develop a 95% confidence interval estimate for ï¢1to test the hypothesis ï¢1= 0.
k. Use the F test to test the hypothesis ï¢1= 0 at a .05 level of significance.
l. Develop a 95% confidence interval estimate of the mean number of sheets of paper used when 38 mortgages are originated.
m. Develop a 95% prediction interval estimate for the number of sheets of paper used when 38 mortgages are originated.
Answer
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