Please only answer the last 5th question with a new reasonable variable and then perform the regression.

Income ($1000s)	Household Size	Amount Charged ($)
54	3	4,016
30	2	3,159
32	4	5,100
50	5	4,742
31	2	1,864
55	2	4,070
37	1	2,731
40	2	3,348
66	4	4,764
51	3	4,110
25	3	4,208
48	4	4,219
27	1	2,477
33	2	2,514
65	3	4,214
63	4	4,965
42	6	4,412
21	2	2,448
44	1	2,995
37	5	4,171
62	6	5,678
21	3	3,623
55	7	5,301
42	2	3,020
41	7	4,828
54	6	5,573
30	1	2,583
48	2	3,866
34	5	3,586
67	4	5,037
50	2	3,605
67	5	5,345
55	6	5,370
52	2	3,890
62	3	4,705
64	2	4,157
22	3	3,579
29	4	3,890
39	2	2,972
35	1	3,121
39	4	4,183
54	3	3,730
23	6	4,127
27	2	2,921
26	7	4,603
61	2	4,273
30	2	3,067
22	4	3,074
46	5	4,820
66	4	5,149

Answer the following questions. Open a new tab for answering each question, show your work and support your answers with results obtained for each question.

1. Use descriptive methods to summarize the data. Comment on your findings.

2. Develop simple linear equation for the following cases and explain which predictor variable explains the credit card charges better.

a. Annual income predictor of credit card charges

b. Household size as the predictor of credit card charges.

3. Develop a multiple linear equation with Annual income and household size as predictors and discuss your findings.

4. Predict the credit card charges for a household of size 4 with annual income of 41000.

5. What additional variables do you think could be helpful to be added to the data to get a better insight on this research.