Question: PART III (Multiple Regression with Interaction) Create a box plot of Wedding Cost vs. Dinner (Hint: The text variable should be to the left of

PART III (Multiple Regression with Interaction) Create a box plot of Wedding Cost vs. Dinner (Hint: The text variable should be to the left of the numeric variable when creating the box plot). Is there a significant difference in wedding cost between plated and buffet dinners? Create a new variable named Plated Dinner and code it where 1 = Plated and 0 = Buffet. Create a new variable named Attendance x Plated Dinner that consists of Attendance multiplied by Plated Dinner. Run a regression using Wedding Cost as the dependent variable and Attendance, Couple's Income, Plated Dinner, and Attendance x Plated Dinner as the independent variables. Write out the regression equation for this model. Review the regression results. Are any of the variables insignificant? If so, remove them from the model and re-run the regression. Compare R2 with Adjusted R2. Is the model parsimonious? Interpret the R2. What does this tell you about the regression model? Interpret each significant coefficient. Interpret the intercept. Is the intercept meaningful? Examine the residual plot and normal probability plot. What do these graphs tell you about your regression model? Create a histogram of the residuals. Are the residuals normally distributed

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!