Leiram tries another model, adding the variable Age to see if that improves the model:
Response Variable: Respond Amount
\(R^{2}=91.50 \%:\) Adjusted \(R^{2}=91.23 \%\)
\(s_{e}=18.179\) with \(149-5=144\) degrees of freedom

QUESTION:

Has the variable Age improved the model? Would you leave the term in? Comment.

Transcribed Image Text:

Variable Coeff SE(Coeff) t-ratio P-value Intercept 114.91 9.244 12.439 <0.0001 Income 0.00091 0.00012 7.619 <0.0001 Total Amount 0.154. 0.00855 18.007 -0.0001 Spent Number of -14,79 0.719 -20.570 <0.0001 purchases Age -0.1264 0.2144 -0.5898 0.5563