Suppose the Bank of Delaware would like to develop a regression model to predict a person’s credit score based on his or her age, weekly income, education level (high school, bachelor’s degree, graduate degree), and whether he or she owns or rents his or her primary residence. The Excel file Bank of Delaware 1.xlsx provides these data for a random sample of customers.

a. Using PH_Stat, construct a regression model using all of the independent variables.

b. Test the significance of the overall regression model using α = 0.01.

c. Interpret the meaning of each of the regression coefficients.

d. Using the p values, identify which independent variables are significant with α = 0.01.

e. Construct a regression model using only the significant variables found in part d and predict the average credit score for a 42 year old person who earns $ 1,200 per month, has a bachelor’s degree, and owns his or her residence.