Is there a particular product that is an indicator of per capita personal consumption for countries around the world? Shown below are data on per capita personal consumption, paper consumption, fish consumption, and gasoline consumption for 11 countries. Use the data to develop a multiple regression model to predict per capita personal consumption by paper consumption, fish consumption, and gasoline consumption. Discuss the meaning of the partial regression weights.

Transcribed Image Text:

Country Bangladesh Greece Italy Japan Kenya Norway Philippines Portugal U.K. U.S. Venezuela Per Capita Personal Consumption (US$) 836 3,145 21,785 37,931 276 1,913 2,195 3,154 19,539 109,521 622 Paper Consumption (kilograms per person) 1 85 204 250 4 156 19 116 207 308 27 Fish Consumption (kilograms per person) 10 24 22 64 5 51 30 60 20 21 18 Gasoline Consumption (litres per person) 2 394 368 447 16 477 43 257 460 1,624 528