SCENARIO 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:
-Referring to Scenario 13-12, what percentage of the variation in the amount of time needed can be explained by the variation in the number of loan applications processed?

Question

SCENARIO 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:   
-Referring to Scenario 13-12, what percentage of the variation in the amount of time needed can be explained by the variation in the number of loan applications processed?

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The Answer of SCENARIO 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:   
-Referring to Scenario 13-12, what percentage of the variation in the amount of time needed can be explained by the variation in the number of loan applications processed?

SCENARIO 13-12 the Manager of the Purchasing Department of a Large