TABLE 13-12
The manager of the purchasing department of a large saving 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 ×

-Referring to Table 13-12, the p-value of the measured F test statistic to test whether the number of loan applications recorded affects the amount of time is
A) (4.3946E-15)/2.
B) 4.3946E-15.
C) (0.0030)/2.
D) 0.0030.

Question

TABLE 13-12
The manager of the purchasing department of a large saving 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 ×

-Referring to Table 13-12, the p-value of the measured F test statistic to test whether the number of loan applications recorded affects the amount of time is
A) (4.3946E-15)/2. 
B) 4.3946E-15. 
C) (0.0030)/2. 
D) 0.0030.

Quizplus · Accepted Answer

The p-value of the measured F test statistic for the number of loan applications recorded affecting the amount of time is found under the column "P-value" and corresponds to the variable "Count." The p-value given in the table is 4.3946E-15, which is less than the standard significance level of 0.05. Therefore, we reject the null hypothesis and conclude that there is a significant relationship between the number of loan applications recorded and the time it takes to record them. The p-value given in the table is not divided by 2 because it is a two-tailed test, and the null hypothesis can be rejected in either direction.

TABLE 13-12 The Manager of the Purchasing Department of a Large Saving