Question: The multiple regression model for monthly credit card balances and the age of the head of household, income (in thousands of dollars), and the value

The multiple regression model for monthly credit card balances and the age of the head of household, income (in thousands of dollars), and the value of the home (in thousands of dollars) is described in the Excel output shown below in Exhibit 14.32. Interpret the model.

SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.604771472 0.365748533 0.304369359 435.3412786 35 ANOVA MS 3 3387992.99 1129330.997 5.958837626 df Regression Residual Total 31 5875182.895 189522.0289 34 9263175.886 P-value Coefficients Standard Error Stat 38.35751156 539.3083936 0.07112352 0.94375632 Intercept Age of Head of Household Income (000) Value of Home (000 0.375387927 3.933953149 0.095422572 0.924593365 0.992027023 11.58540256 0.085627324 0.932313329 22.03697173 8.899239591 2.47627581 0.018939953

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