Auto sales ($ thousands), household income ($ thousands) and population (thousands) of 10 metropolitan areas were collected
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Question:
- Auto sales ($ thousands), household income ($ thousands) and population (thousands) of 10 metropolitan areas were collected ("Auto sales data.xlsx")-Using SAS:
- Using household income and population, fit a multiple regression model to forecast auto sales. Provide the equation of the line fit and interpret the slope parameters
- Evaluate the model in part (a)
- Modify the model in part (a) to test whether population has a non-linear effect on auto sales (while still using household income as an independent variable). Provide the equation of the line fit. Does population have a non-linear effect? Explain
- Using multiple measures, compare the models in parts (a) and (c). Which model fits the data better? Explain
DATA:
Area | Auto_sales | Household_income | Population |
1 | 185792 | 23409 | 133.17 |
2 | 85643 | 19215 | 110.86 |
3 | 97101 | 20374 | 68.04 |
4 | 100249 | 16107 | 99.59 |
5 | 527817 | 23423 | 289.52 |
6 | 403916 | 19426 | 339.98 |
7 | 78283 | 18742 | 89.53 |
8 | 188756 | 18553 | 155.78 |
9 | 329531 | 21953 | 248.95 |
10 | 91944 | 16358 | 102.13 |
Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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