Question: For this question, use the following multiple regression output (which may differ from the output in other questions, even though the variables are the same).

For this question, use the following multiple regression output (which may differ from the output in other questions, even though the variables are the same).

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.732
R Square 0.536
Adjusted R Square 0.511
Standard Error 4451.652
Observations 100
ANOVA
df SS MS F Significance F
Regression 5 2148222488 429644497.6 21.680 2.246E-14
Residual 94 1862816975 19817201.86
Total 99 4011039463
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 528.896 2512.847 0.210 0.8338 -4460.421 5518.213
Annual Income ($1000) 139.220 15.531 8.964 2.936E-14 108.382 170.058
Household Size 821.824 232.404 3.536 0.0006 360.381 1283.266
Education -1104.740 299.596 -3.687 0.0004 -1699.595 -509.885
TV Hours 20.638 27.201 0.759 0.4499 -33.371 74.646
Age -8.312 45.476 -0.183 0.8554 -98.607 81.982

How much variation in annual charges is explained by the model?

Group of answer choices

2.246x10-14

4451.652

51.1%

53.6%

73.2%

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