Question: Please finish the following questions using Excel with appropriate formulas; Q3. Regression Based on the market research, ABC Company found two factors: 1) household income,
Please finish the following questions using Excel with appropriate formulas;
Q3. Regression
Based on the market research, ABC Company found two factors: 1) household income, and 2) population will affect car sales. The company has collected the following data for 15 different areas:
- Develop a multiple regression model for car sales, as a function of household income and population.
- In the regression results table, highlight the key information (i.e. coefficients for two independent variables, and corresponding p values).
- Show the complete regression model (with coefficients and intercepts). Calculate car sales when the household income is $206,000, and population is 190.00 (in thousands).
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