Question: Question 5: A student used multiple regression analysis to study how family spending (y) is influenced by income (x1), family size (x2), and additionsto savings(x3).

Question 5:

A student used multiple regression analysis to study how family spending (y) is influenced by income (x1), family size (x2), and additionsto savings(x3). The variables y, x1, and x3 are measured in thousands of dollars. The following results were obtained.

ANOVA

df SS

Regression 3 45.9634

Residual 11 2.6218

Total

Coefficients Standard Error

Intercept 0.0136

x1 0.7992 0.074

x2 0.2280 0.190

x3 -0.5796 0.920

Required:

(a) Write out the estimated regression equation for the relationship between the variables.

(b) Compute coefficient of determination. What can you say about the strength of this relationship?

(c) Carry out a test to determine whether y is significantly related to the independent variables. Use a 5% level of significance.

(d) Carry out a test to see if x3 and y are significantly related. Use a 5% level of significance.

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