--%>
Assignment Help - homework help

develop the most appropriate regression model

Predicting Courier Costs

The law firm of Adams, Babcock, and Connors is located in the Dallas-Fort metroplex.  Randall Adams is the senior and founding partner of the firm.  John Babcock has been a partner in the firm for the past eight years, and Blake Connors became a partner just last year.  The firm employs two paralegal assistants and three secretaries.  In addition, you, the newly hired office manager, are in charge of day-to-day operations and manage the financial affairs of the law firm. 

A major aspect of the law firm's business is the preparation of contracts and other legal documents for its clients.  A courier service is employed by the firm to deliver legal documents to its many clients as they are scattered throughout the metroplex.  The downtown centers of Dallas and Fort Worth are separated by a distance of approximately (30) miles.  With the large sizes of these cities and their associated heavy traffic, a trip by car from the southwest side of Fort Worth to the northeast side of Dallascan easily take longer than an hour which could impact courier costs.

In order to improve the firm's planned expenditures, you have been asked to derive a regression model that would be best in predicting courier costs.  The information provided in the Excel file E281 Project 2 Data, includes cost (charge for the delivery), pickup time (time in minutes from when the order is phoned in until a courier agent arrives), delivery time (time in minutes that it takes for the documents to be delivered), and mileage (distance in miles from the law firm to the destination).

(a).  Select only (1) of the (3) independent variables provided to use in your regression model.  Justify your selection by ONLY applying the p-value approach.

(b).  Using your results in (a), develop the most appropriate regression model using a linear model, quadratic model, and cubic regression model.  

(c).  Using your results in (a), develop the most appropriate model using a linear model, log-logmodel, logarithmic model, and exponential model.

(d).  Write a (1) page report that summarizes your results and methodology, and explain your perspective of the models you developed in (b) and (c).  In regards to your results in (b) and (c), which model would you choose.  Briefly explain.

   Related Questions in Basic Statistics

  • Q : Cumulative Frequency and Relative

    Explain differences between Cumulative Frequency and Relative Frequency?

    		•
  • Q : Calculate the p- value Medical tests

    Medical tests were conducted to learn about drug-resistant tuberculosis. Of 284 cases tested in New Jersey, 18 were found to be drug- resistant. Of 536 cases tested in Texas, 10 were found to be drugresistant. Do these data indicate that New Jersey has a statisti

    		•
  • Q : Spss in Business and Management Please

    Please tell me the cost of this current assignment. Note : I do not want the Solutions but please tell me the price as the assignment is .. Is the cost 3 euro? Do you sell those questions?

    		•
  • Q : Get Solved LP Problems Solve Linear

    Solve Linear Programming Questions A producer manufactures 3 models (I, II and III) of a particular product. He uses 2 raw materials A and B of which 4000 and 6000 units respectively are obtainable. The raw materials per unit of 3

    		•
  • Q : Time series what are the four

    what are the four components of time series?

    		•
  • Q : Problem on queuing diagram Draw a 

    Draw a queuing diagram for the systems below and describe them using Kendall’s notation: A) Single CPU system <

    		•
  • Q : Problems on ANOVA We are going to

    We are going to simulate an experiment where we are trying to see whether any of the four automated systems (labeled A, B, C, and D) that we use to produce our root beer result in a different specific gravity than any of the other systems. For this example, we would l

    		•
  • Q : Develop the most appropriate regression

    Predicting Courier Costs The law firm of Adams, Babcock, and Connors is located in the Dallas-Fort metroplex.  Randall Adams is the senior and founding partner of the firm.  John Babcock has been a partne

    		•
  • Q : Safety and Liveness in Model Checking

    Safety and Liveness in Model Checking Approach; •? Safety: Nothing bad happens •? Liveness: Something good happens •? Model checking is especially good at verifying safety and liveness properties    –?Concurrency i

    		•
  • Q : State the hypotheses At Western

    At Western University the historical mean of scholarship examination score for freshman applications is 900. Population standard deviation is assumed to be known as 180. Each year, the assistant dean uses a sample of applications to determine whether the mean ex

    		•