The analyst in Exercise 11 fits the model with the four predictor variables. The regression output shows:
Question:
The analyst in Exercise 11 fits the model with the four predictor variables. The regression output shows:
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. SECTION 19.5
Transcribed Image Text:
Response Variable: Spending R 84.92% Adjusted R = 84.85% s = 48.45 with 908 5 903 degrees of freedom Variable Coeff SE(Coeff) t-ratio P-value Intercept -3.738e+00 1.564e+01 -0.239 0.811 Past Spending 1.063e-01 4.203e-03 25.292
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