Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A regression model to predict Y, the state-by-state burglary crime rate per 100,000 people, used the following four state predictors: X1. = median age, X2=

image text in transcribed
image text in transcribed
A regression model to predict Y, the state-by-state burglary crime rate per 100,000 people, used the following four state predictors: X1. = median age, X2= number of bankruptcies per 1,000 people, X3= federal expenditures per capita, and X4= high school graduation narrantane. (a) Write the fitted regression equation. (Round your answers to 4 decimal places. Negative values should be indicated by a minus sign.) (b-1) The state-by-state crime rate per 100,000 decreases by about 26 as the state median age increasesi increasos by about 26 as the state median age increases. (b-2) The state-by-state crime rate per 100,000 increases by about 18 for every 1,000 new bankrupteies fied. decreasos by about 18 for every 1,000 new bankrupteies filed. (b-3) The state-by-state crime rate per 100,000 decreases by 0.0235 for each dollar increase in federal funding per person. increases by 0.0235 for each dollar increase in federal funding per person. (b-4) The state-by-state crime rate per 100,000 increases by about 26 for each 1% increase in high school graduations. decreases by about 26 for each 1% increase in high school gradtations. (c) Would the intercept seem to have meaning in this regression? Yes No (d) Make a prediction for Burglary when X1=35 years, X2=63 bankruptcies per 1,000,X3=$5,961, and X4=68 percent. (Round your answers to 4 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions