Question
Data on monthly spending of 50 individuals on fruits (in dollars) has been collected and researchers want to know the relationship with one's annual income
Data on monthly spending of 50 individuals on fruits (in dollars) has been collected and researchers want to know the relationship with one's annual income of each individual (in thousands of dollars), whether they are male (male =1 if yes, 0 otherwise) and whether they are college graduates (COLLEGE=1 if yes, 0 otherwise). The analysis of data is presented below:
SUMMARY OUTPUT
Based on this analysis, what percentage of variations in monthly spending on fruits can be explained by the model?
| Multiple R | 0.745 |
|---|---|
| R Square | 0.555 |
| Adjusted R Square | 0.536 |
| Standard Error | 17.126 |
| Observations | 50 |
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Calculus Single Variable
Authors: Deborah Hughes Hallett, Andrew M Gleason, William G McCallum
8th Edition
1119783836, 9781119783831
