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# Multiple regression (ANOVA) step by step explanation please?

## A multiple regression is used in cost analysis to shed light on the factors that cause costs to be incurred and the magnitudes of their effects. The sample data from a firm’s accounting and production records for 20 weeks provide cost information about the firm’s shipping department. LABOR (Y, in hours) is the dependent variable, while the independent variables are POUNDS shipped (X1, in 1000s), percentage of UNITS shipped by truck (X2, %) and average shipping WEIGHT (X3, in pounds). The table below shows partial Excel results obtained from fitting a multiple regression model (Labor versus Pounds, Units, Weight): a. Is there sufficient evidence at the 5% level of significance to conclude that the model is useful in predicting labor cost? State your conclusion in the context of the problem. b. Is there sufficient evidence at the 5% level of significance to conclude that firm’s hours of labor are related to average shipping weight? c. Estimate the coefficient of determination and explain its meaning in the context of the problem. d. Estimate the average hours of labor based on a shipment of 6,000 pounds, 40% of which are trucked with average shipment weight of 20 pounds.

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