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A small business analyst seeks to determine which variables should be used to predict smallbusiness mean annual revenue for major metropolitan areas. The analyst decides
A small business analyst seeks to determine which variables should be used to predict smallbusiness mean annual revenue for major metropolitan areas. The analyst decides to consider the independent variables age, the mean age (in months) of small businesses in the metropolitan area; and BizAnalyzer, the mean BizAnalyzer score of small businesses in the metropolitan area. (The BizAnalyzer score measures on a scale of 1 to 100 the level of risk that the small businesses in the metropolitan area present to the potential lenders.) The dependent variable, revenue, is mean annual revenue. Using data collected from a sample of 25 metropolitan areas, the regression results are given below. Complete parts (a) through (c). @ Click the icon to view the table of regression results. a. Let X1 be Age and X2 be BizAnalyzer. State the multiple regression equation. Yi= +( X1i+( X2i (Type integers or decima s. Do not round.) Regression Results Standard Variable Coefficients Error t Statistic p-Value Intercept - 680.8251 1,313.5154 - 0.52 0.6097 Age 1.8294 7.8519 0.22 0.8261 BizAnalyzer 20.6203 29.1859 0.70 0.4885
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