Answers are given in blue. I'm only looking for EXCEL solutions.
Suppose a bank would like to develop a regression model to predict a person's credit score based on his or her age. weekly income highest education level (high school' bachelor degree. graduate degree). and whether or not he or she owns or rents his or her primary residence The accompanying table provides these data for a random sample of customers Complete parts a through e below. E Clickthe icon to View the data table a. Using Excel, construct a regression model using all of the independent variables. (Let variable Ed1 be one of the dummy variables for the education level. Assign a 1 to a bachelor degree for this variable. Let Ed2 be another dummy variable for the education level. Assign a 1 to a graduate degree for this variable. Also, let variable Res be the dummy variable for the Residence variable. Assign a 1 if the person Owns his or her primary residence .) Complete the regression equation for the model below, where y = Credit Score, X1 = Income, X2 = Age, X3 = Ed1, X4 = Ed2, and Xs = Res. y= 469.37 +( 0.03 )x1 + ( 1.91 )x2 + ( 47.60 )x3 +( 81.49 )x4 + ( 41.03 )*5 (Round to two decimal places as needed. )\fDetermine the appropriate test statistic. F = 5.54 (Round to two decimal places as needed.) Determine the p-value. p-value = 0.001 (Round to three decimal places as needed.)Determine the proper conclusion. Reject H0. There is sufficient evidence to conclude that the overall regression model is significant. c. Interpret the meaning Dr each Of the regression coei'TiCients Interpret the meaning of the regression coeffiCients for the dummy variables. Select the correct choice below and fill in the answer boxes to complete your choice (Round to two decimal places as needed.) Bachelor degree holders average credit scores that are 4760' points higherthan people With only a high school degree Graduate degree holders average credit scores that are 8149' points higherthan people With only a high school degree. People who own their primary residence average credit scores that are 41.03' points higherthan renters. Bachelor degree holders average credit scores that are points higherthan people with only a high school degree. Graduate degree holders average credit scores that are points higherthan people With only a bachelor degree. People who rent their primary residence average credit scores that are points higherthan owners. Interpret the meaning of the regression coefficient for income. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to two decimal places as needed.) * Each additional $1 increase in income increases a person's average credit score by 0.03 , holding all othervariahles constant. Interpret the meaning of the regression coefficients forAge. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to two decimal places as needed.) Each additional increase of 1 in a person's credit score decreases their average age by year(s), holding all other variables constant. Each additional increase of 1 in a person's credit score increases their average age by yearis), holding all other variables constant. Each additional year increase in age increases a person's average credit score by 1.91 , holding all other variables constant. d. Using the p-values, identify which independent variables are significant with ( = 0.10. A. Ed2 B. Res C. Age LY D. Ed1 X E. Incomee. Construct a regression model using only the significant variables found in part c and predict the average credit score for a 43-year-old person who earns $1,200 per month, has a high school degree, and owns his or her residence. The predicted average credit score is 637.9 . (Round to one decimal place as needed.)
