Question: Consider three multiple linear regression models that have the same dependent variable, consumer spending at Ikea.All three models are statistically significant. Model I was constructed
Consider three multiple linear regression models that have the same dependent variable, consumer spending at Ikea.All three models are statistically significant. Model I was constructed using a sample of 89 Ikea shoppers and has 3 independent variables (age, marital status, annual income).Model II has 4 independent variables (number people shopping together, number children in shopping group, number of days since shopper last visited Ikea, and weekly income) and a sample size of 103 Ikea shoppers. Model III has 66 Ikea shoppers, and includes 4 variables (age of shopper, gender of shopper, marital status, and number of visits to Ikea in previous 12 months).
What measure(s) can you use to compare the models to determine which model is stronger?Why?
Explain your reasoning in the space below.
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