Calculate the line of best fit, Applied Statistics

The manager of Pizza Hut provides a delivery service for customers who telephone in an order. The manager would like to give callers an idea of the time it will take to deliver an order. This depends upon the distance of the customer from Stratford. The records of the last 12 deliveries are shown in the following table below

Distance (miles)           Delivery Time (minutes)     

         X                                y                                      xy                    x2              

        2.3                              5                                     11.5                 5.29

        6.7                            13                                     87.1               44.89              

        7.5                            10                                     75                    56.25

        3.1                             5                                     15.5                  9.61

        4.6                             9                                      41.4                  21.16

        3.9                             8                                     31.2               15.21

        8.7                            15                                     130.5             75.69

        9.8                            20                                     196                 96.04

        10 .1                         18                                      181.8             102.01

        6.5                             13                                      84.5               42.25

        7.3                              12                                     87.6               53.29

        5.2                               9                                       46.8               27.04                                                                   

       75.7                             137                                    988.9                548.73

use of best fit, y= a+bx, a= fixed cost, b= variable cost per unit

b= n

(i) Using regression analysis calculate the line of best fit through the data and interpret your values of a and b.

(ii) Forecast the time it would normally take to deliver an order for a distance of 5 miles.

(b) Using a report format, identify and appraise the sources of finance available to the Board of Directors of Dragon Limited.

Posted Date: 2/22/2013 7:37:57 AM | Location : United States







Related Discussions:- Calculate the line of best fit, Assignment Help, Ask Question on Calculate the line of best fit, Get Answer, Expert's Help, Calculate the line of best fit Discussions

Write discussion on Calculate the line of best fit
Your posts are moderated
Related Questions
b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y

find the expected value of the mean square error and of the mean square reggression

A researcher hypothesized that the pulse rates of long-distance athletes differ from those of other athletes. He believed that the runners’ pulses would be slower. He obtained a ra

Old Faithful Geyser in Yellowstone National Park derives its names and fame from the regularity (and beauty) of its eruptions. Rangers usually post the predicted times of eruptions

Methods of Forecasting  Various techniques which are generally used in business forecasting are as under: 1.      Forecasting  through the opinion of heads  of department

The box plot displays the diversity of data for the totexp; the data ranges from 30 being the minimum value and 390 being the maximum value. The box plot is positively skewed at 1.

Pneumatic Actuator Design Matrix: The range of actuator design parameters have been provisionally assessed and are presented in Table. You are required to determine the following

Calculation for Continuous Series or Grouped Data = where, m = mid-point of class   =

what the purpose we use it

Binomial Distribution Binomial distribution  was discovered by swiss mathematician James  Bernonulli, so this distribution is called as Bernoulli distribution also, this is a d