a. Find the appropriate measure of the fitness of the model. State its value and interpret it.
b. Performance the individual t-test on the coefficients. State the hypotheses, p-value and conclusion
c. Comment on the relationship between household net worth and the revenue based on the estimated coefficient. Are the relationships expected? If not, what could be the possible explanation? Hint: the correlation between household net worth and disposable income is 0.96.
a. Coefficient of determination R2 is used to determine goodness of fit of a model, b. Null... View the full answer