Question
Amount Charged ($) Income ($1000s) Household Size 4,016 54 3 3,159 30 2 5,100 32 4 4,742 50 5 1,864 31 2 4,070 55 2
"Amount Charged ($)" "Income ($1000s)" "Household Size"
4,016 54 3
3,159 30 2
5,100 32 4
4,742 50 5
1,864 31 2
4,070 55 2
2,731 37 1
3,348 40 2
4,764 66 4
4,110 51 3
4,208 25 3
4,219 48 4
2,477 27 1
2,514 33 2
4,214 65 3
4,965 63 4
4,412 42 6
2,448 21 2
2,995 44 1
4,171 37 5
5,678 62 6
3,623 21 3
5,301 55 7
3,020 42 2
4,828 41 7
5,573 54 6
2,583 30 1
3,866 48 2
3,586 34 5
5,037 67 4
3,605 50 2
5,345 67 5
5,370 55 6
3,890 52 2
4,705 62 3
4,157 64 2
3,579 22 3
3,890 29 4
2,972 39 2
3,121 35 1
4,183 39 4
3,730 54 3
4,127 23 6
2,921 27 2
4,603 26 7
4,273 61 2
3,067 30 2
3,074 22 4
4,820 46 5
5,149 66 4
Develop a multiple regression equation with annual income and household size as the independent variables. Estimate and report the estimated model. Discuss your findings.
Can you please outline how the answer is:
The regression equation is :
Amount Charged = 33.133009*Income + 356.295901*Household Size + 1304.904779
I have used the regression equation in excel but get getting different results?!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
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](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started