The analyst in Exercise fits the model with the four predictor variables. The regression output shows: Response
Question:
Response Variable: Spending
R2 = 84.92% Adjusted R2 = 84.85%
s = 48.45 with 908 - 5 = 903 degrees of freedom
a) How many observations were used in the regression?
b) What might you do next?
c) Is it clear that Income is more important to predicting Spending than Networth? Explain.
Transcribed Image Text:
SE(Coeff) t ratio P-value Variable Coeff Intercept 3.738e +00 1.564e 01 0.239 0.811 Past Spending 063 01 4.203e 03 25.292 <0.0001 1.902e 03 3.392e 04 5.606 0.0001 Networth .900e 05 3.815e 05 0.760 0.447 6.065e 01 7.631e 01 0.795 0.427 Income ge
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a The number of observations used in developing the regression model is 908 You can find this in the ...View the full answer
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Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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