Apply the formula for the adjusted R2 to verify the value shown in Exhibit 14.17. Note that the SSE and SST are shown in the Excel Regression output.
Answer to relevant QuestionsConduct a test of the significance of the overall model for the salaries model which includes all explanatory variables. Test the significance of the individual explanatory variables. What does this tell you? Would it be appropriate to use the Woodbon model to make a prediction for mortgage rates of 6%, housing starts of 2,500, and advertising expenditure of $4,000? Explain why or why not. Create a correlation matrix for the variables in the Salaries data set. Discuss which explanatory variables should not be used simultaneously, and which look most promising to explain salaries. Statistics Canada collects census data about Canadians every five years. The department provides data files that contain a representative sample of anonymous individual responses to census surveys. A subset of these data is ...For the Marks data set, create and examine all models with three explanatory variables that include the mark on Test 2. Note that there will be six of these models. Does any of these rep resent a real improvement on the best ...
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