Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An analyst wants to build a regression model to predict spending from the following four predictor variables: Past Spending, Income, Net Worth, and Age. The

image text in transcribed
An analyst wants to build a regression model to predict spending from the following four predictor variables: Past Spending, Income, Net Worth, and Age. The analyst, worried about collinearity, regresses Age against Past Spending, Income, and Net Worth. The output is displayed in the accompanying table. What is the VIF for Age? E Click the icon to view the regression output. VIF = :| (Round to two decimal places as needed.) Regression model output Response Variable: Age R2 = 99.50% Adjusted R2 = 99.50% s = 2.189 with 908 - 4 = 904 degrees of freedom Variable Coeff SE(Coeff) t-ratio (Intercept) 2.017e + 01 1.433e - 01 133.941 Past Spending 3.322e 04 1.869e 04 1.674 Income 3.881 e - 04 7.635e - 06 50.941 Networth 2.446e 05 1.486e - 06 16.905

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

Recommended Textbook for

Managerial economics

Authors: william f. samuelson stephen g. marks

7th edition

9781118214183, 1118041585, 1118214188, 978-1118041581

Students also viewed these Mathematics questions

Question

4. Schedule individual conferences with students.

Answered: 1 week ago