Q4
The "Multinational Parks" is interested in determining the variables that influence the amount of money families spend at their parks.
The "ParkSpend" table to the right indicate the amount spent per family, the number of family members, and the distance from the park families live.
a) Run regression analysis using Excel to determine the variable(s) that significantly influence the amount of money families spend at the parks.
Note: use a 95% confidence level.
b) Which variable(s) significanlty affect(s) house prices? Explain?
c) What is the amount of variation that the number of family members and distance from the parks explain?
d) Is the regression model significant? Explain.
e) Based on the Excel output, what is the regression equation?
f) Based on the regression equiation, estimate the amount of spending a family of 6 that lives 28 kilometers from the parks is expected to spend.
Show your work.
ParkSpend
Spend ($)	Number of Family members	Distance from the Parks (KM)
38.39	4	20
31.04	5	34
51.45	6	11
107.19	3	61
144.24	3	119
72.54	3	28
36.13	2	41
100.09	6	85
151.96	6	148
82.3	6	13
201.18	7	134
91.74	5	70
56.66	4	4
56.69	1	50
19.9	3	59
99.32	5	34
62.82	7	28
25.74	3	5
94.84	5	43
132.31	4	132
86.52	4	96
25.33	4	20
17.2	7	9
158.95	8	108
64.97	4	38
152.15	7	73
130.47	2	143
161.04	7	107
27.41	6	9
165.2	7	130
13.15	4	24
75	2	3
50.7	1	82
64.63	1	40
44.94	4	6
93.02	6	59
45.62	4	42
84.72	7	26
53.52	8	14
169.76	7	134
62.07	7	45
146.18	3	144
130.92	1	119
64.05	5	44
81.57	1	85
66.42	4	85
80.26	1	136
51.85	3	39
138.65	2	141
150.89	1	118
55	7	8
26.38	5	11
113.5	5	81
85.86	3	119
192.3	8	99
85.54	1	38
26.93	1	27
97.77	5	68
107.21	4	62
44.77	5	7
175.82	5	147
114.88	3	65
80.97	1	87
155.53	4	145
134.27	6	90
179.69	6	136
30.9	3	1
18.62	3	27
118.37	3	72
106.52	6	55
88.75	8	70
23.19	4	40
126.24	4	65
91.22	2	42
101.2	2	38
29.86	1	88
120.87	8	64
63.94	5	23
100.04	5	89
41.42	1	100
167.42	8	89
21.04	1	28
4.59	2	7
115.66	1	136
71.57	7	53
69.12	6	18
143.79	5	136
183.82	2	141
150.98	8	145
105.84	6	21
139.27	6	104
23.91	2	8
154.14	4	111
139.32	7	72
77.43	3	122
87.18	2	76
141.37	1	138
170.74	7	103
102.15	3	99
7.05	1	17
118.59	4	63
134.19	8	48
127	4	103
70.75	1	133
53.68	4	49
156.7	2	148
61.45	1	47
67.71	5	21
75.53	5	49
58.12	4	21
83.06	8	23
99.45	6	85
54	1	18
175.77	4	116
89.18	5	40
84.84	1	106
42.82	6	55
82.1	8	40
101.23	4	65
161.93	5	142
131.82	6	62
110.29	3	141
42.37	4	16
135.65	3	118
39.56	4	11