Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3. Predicting a nation's average happiness Consider live statistics for several nations: m, the average satisfaction score; GINI, the gini coefcient of income inequality {higher
3. Predicting a nation's "average happiness" Consider live statistics for several nations: m, the average satisfaction score; GINI, the gini coefcient of income inequality {higher score = greater inequality); CORRUPT, the degree of corruption in government [higher score = less corruption); LIFE, the average life expectancy; and DEMOCRACY, a measure of civil and political liberties [higher score = more political liberties}. a. Using numerical and graphical summaries, describe the distribution of each variable. b. Using numerical and graphical summaries, describe the relationship between each other. c. Considera model using GINI and LIFE. Run the MLR and summarize results. Be sure to check assumptions d. Now consider a model using GINI, LIFE, and DEMOCRACY. Run the MLR and summarize the results. Again make sure to check assumptions. e. Now consider a model using all four explanatoryi variables. Summarize results and check assumptions. 1', Use a model selection procedure to determine the best model. How the model selected compares to the model you have chosen by the partial tests method
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started