Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider a regression model predicting the Sales per visit in dollars for customers visiting a store using the customer's age in years, number of children

image text in transcribed
Consider a regression model predicting the Sales per visit in dollars for customers visiting a store using the customer's age in years, number of children at home, number of visits to the store per week, their salary in dollars, and the distance they live from the store, in miles. Here is the regression output, estimated on a random sample of customers. SUMMARY OUTPUT DV: Sales per visit Regression Statistics Multiple R 0.9522 R Square 0.9066 Adjusted R Square 0.8820 Standard Error 14.1424 Observations 25 ANOVA Significance df 5S MS F F Regression 5 36888.28 7377.657 36.887 3.835E-09 Residual 19 3800.141 200.0074 Total 24 40688.43 Standard Upper Coefficients Error t Stat P-value Lower 95% 95% Intercept 3.9437 27.46422 0.143595 0.88733 53.5395 61.427 age -0.03316 0.286263 -0.11583 0.90900 -0.6323 0.566 children at home 4.908574 1.330455 3.689396 0.001557 2.1239 7.693 visits per week -1.85384 1.441121 -1.28639 0.21376 -4.8701 1.162 salary 2.90106 0.864368 3.356281 0.003316 1.09192 4.710 distance 0.222762 0.69111 0.322325 0.750723 -1.2238 1.669

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Fundamentals Of Calculus

Authors: Carla C Morris, Robert M Stark

1st Edition

1119015367, 9781119015369

More Books

Students also viewed these Mathematics questions

Question

16. Use Exercise 15 to show that P(E F) = P(E) + P(F) P(EF).

Answered: 1 week ago