Compare the adjusted R2 values for the three models of salary from Exercises 12, 13, and 14 above. Based on the adjusted R2, which model does not seem worth considering at this point?
Answer to relevant QuestionsUse Excel to create a 95% confidence interval of average Woodbon sales, when mortgage rates are 6%, housing starts are 3,500, and advertising expenditure is $3,500. Interpret the interval. Use the salaries model based on years of postsecondary education and years of experience to make a 95% pre diction interval estimate of the salary of an individual who has five years of postsecondary education and 10 years ...Build a regression model, with indicator variables for battery brand, to assess whether there is a significant relationship between battery life in minutes and battery brand. This revisits the battery example in Chapter 11. Examine the residual plots produced by Excel for the Salaries multiple regression model that you built for Develop Your Skills 14.2, Exercise 4, which included years of postsecondary education and age as explanatory ...Think about your analysis in Exercise 14. Is the year of the car a quantitative variable? Create an indicator variable for the year of the car, and rebuild the model. Describe the models, and choose the best one. In ...
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