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business stats question #3 please!! A data analyst for a travel company is researching souvenir expenditures. For 40 randomly selected recent travel clients, she records
business stats question #3 please!!
A data analyst for a travel company is researching souvenir expenditures. For 40 randomly selected recent travel clients, she records their Souvenir Expenditures (\$100), household Income (S1000), the Importance they placed on the vacation (110), the length of the vacation (Days), and whether their trip was Logil (L) (within 100 miles from home), National (N) (in the US but not local), or International (I). he calls the last variable: LNI. Using Local as the reference category, she fits the model: Expenditures vs. Income, Importance, \& LNI. The Coefficients Table for the model is shown below. Use this output to answer Question 3. 3. The Smiths (Income: $60,000, Importance: 8 ) traveled Nationally and spent $240 on souvenirs. Their residual in this model is approximately: A. $131 B. $46 C. $701 D. $131 E. $46 Step by Step Solution
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