Question: FORECAST ANALYSIS SUMMARY OUTPUT The table below shows the relationship between forecasted Truckload (TL) rates (dependent variable or Y) and driver wages, equipment types, and

FORECAST ANALYSIS SUMMARY OUTPUT

The table below shows the relationship between forecasted Truckload (TL) rates (dependent variable or Y) and driver wages, equipment types, and distance (the independent of X variables). Please use the information in this table to answer the following questions.

FORECAST ANALYSIS SUMMARY OUTPUT The table below

What is the regression line?

Is your model a significant model? How do you know?

How much variation in TL rates are explained by driver wages, equipment types, and distance? What is the technical name called for this variation?

Which of the independent variables are significant predictors of Truckload rates (TL) at alpha = 95%?

Which of the independent variables are significant predictors of Truckload rates (TL) at alpha = 90%?

Interpret the coefficients of your significant independent variables at alpha= 95%.

The following are the VIF scores of the independent variables. Driver wages = 3.265; Equipment Types = 11.354; Distance (Miles) = 18.653 What do you conclude & what is the solution?

Regression Statistics Multiple R 0.45068 R Square 0.70311 Adjusted R Square 0.51457 Standard Error 63.83479 Observations 31 ANOVA SS MS F Df 3 Significance F 0.004511 28042.4 2.293 Regression Residual 9347.4 4074.8 27 110021.78 Total 30 138064.19 Standard Error P-value Coeficients 60.06461313 8.321382943 Upper 95% 253.77155 0.5299 94.40689 3.86845 t Stat 0.636 2.151 0.477 0.0405 Intercept Driver Wages Equipment Type Distance (Miles) Lower 95% -133.64232 0.38399 -14.64713 -0.17423 16.25878 4.44668666 9.30575 0.6366 23.5405 1.34302 0.584391391 0.36973 1.58 0.0956

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

The table below shows the relationship between forecasted Truckload (TL) rates (dependent variable or Y) and driver wages, equipment type and distance (the independent of X variables). Please use the...

Budgeting for Nonprofit Organizations Although budgeting is just as important for nonprofit organizations as for for-profit companies, the approach taken toward budgeting can be very different. In...

Hello, I havetwo articles about S Corp. and C Corp., and IJUST need towrite a conclusion paragraph based on professor's questions. can you help me to write it? Articles are attached Accounting...

Hi Erylee88, I would like to utilize your service again. Same format different questions. Please find attached document for your review. Let me know. Thank you, Sam...

1 At many universities, students are assigned a grade of A, B, C, D, or F at the completion of each course. These letter grades are translated to 4, 3, 2, 1, and 0 grade (quality) points,...

Discussion Board Week 3 "Managing in the Global Economy and Outsourcing Offshore" Using Techniques to Forecast Variables of Interest to Business and Foreign Exchange During the Weekly Scenarios Herb...

Reference: FOSSUM.. Labor Relations, 10th Edition. McGraw-Hill Learning Solutions, 2008. VitalBook file. Page 429Chapter Thirteen Union-Management Cooperation Many labor relations practices are...

General guidelines of writing for APA style: 1. All verbs referring to your study (and the studies of others) should be in past tense . 2. Do NOT paste quotations longer than 2 words. Paraphrase, but...

Do you think the Federal Reserve successfully carried out its role as lender of last resort in the wake of the terrorist attacks on September 11, 2001? Why or why not?

QUESTION 9 The output expression for an AND-OR-Invert circuit having one AND gate with inputs A, B and C and one AND gate with inputs D, E and Fis O(A+B+C)(D+E+F) O (A+B+C)(D+E+F) ABC + DEF...

Basic Savings Account Find the interest earned after 3 years if Php12,000 is deposited in a savings account which earns 5% simple interest. At what simple interest rate is Php16,500 invested if it...

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...