The U.S. Bureau of Labor Statistics produces consumer price indexes for several different categories. Shown here are
Question:
The U.S. Bureau of Labor Statistics produces consumer price indexes for several different categories. Shown here are the percentage changes in consumer price indexes over a period of 20 years for food, shelter, apparel, and fuel oil. Also displayed are the percentage changes in consumer price indexes for all commodities. Use these data and multiple regression to develop a model that attempts to predict all commodities by the other four variables.
Comment on the result of thisanalysis.
Transcribed Image Text:
Fuel Commodities Food Shelter Apparel Oil All 2.0 2.7 2.6 1.6 1.2 4 1.2 2.1 2.4 4.4 7.2 6.0 6.7 6.6 6.2 2.2 5.0 2.6 1.9 3.5 4.7 4.5 3.0 2.5 5.3 5.8 4.2 3.2 2.0 3.7 7.4 3.5 8.3 8.9 5.7 3.1 4.2 14.5 14.3 8.5 3.0 6.3 9.9 11.0 3.0 7.4 11.9 8.8 4.3 4.6 9.6 9.9 5.5 6.6 10.2 13.9 4.0 9.3 12.0 9.5 9.6 8.4 9.2 3.7 4.5 7.2 11.3 4.3
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The regression model was All 106 0475 Food 0250 Shelter 0008 Apparel 02...View the full answer
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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