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Data from several households 1.Ill'ere collected [regarding income. size, and amount charged on credit card}: Income Household Amount {510005} Size

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Screen Shot 2018-05-05 at 2.03.09 PM.png

Data from several households 1.Ill'ere collected [regarding income. size, and amount charged on credit card}: Income Household Amount
{510005} Size Che _ed {S} 4m
as 2 3,159
32 4 also “—— " n— 3,343
n
n— 4,110 {This data may.r he cut and pasted into Excel or StatCrunch). Run a multiple linear regression model to predict 'amcunt charged' based on 'income[$1flflfls]' and 'household size'.
Answer these: 1. what is the line of best fit? 2. how good is the fit? 1.Ill'hat measure did you base this on? 3. is at least one slope different from zero at a 5% level of significance? what do you base this on? 4. predict the amount charged for a household of size 3 and income $30300

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run a regression test in excel go to data >> data analysis... View the full answer

1 comment
  • for B2 : p value is 0.018 ; p value < 0.05 ;reject H0 ; conclusion:- B2≠ 0 ,since B2 ≠ 0, therefore one slope is dfferent from zero at 5% level of significance ......please omit
    • gawt124
    • May 06, 2018 at 5:19am

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