Excel Chapter 14 Saved Help Save & Exit Submit 2. Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley's Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley's Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information. 50 points Family 1 Size 2 2 eBook 2 3 4 1 References 2 4 Food $4.98 4.08 5.76 3.48 4.20 4.80 4.32 5.04 6.12 3.24 4.80 3.24 6.80 5.01 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Income $ 73.98 54.90 58.20 52.02 65.70 53.64 79.74 68.58 165.60 64.80 138.42 125.82 77.58 158.09 60.30 141.30 36.90 56.88 71.82 69.48 54.36 87.66 38.16 43.74 58.91 4 5 1 3 1 7 6 2 3 5 4 6.60 5.40 6.00 5.40 3.36 4.68 4.32 5.52 4.56 5.40 4.02 1 3 2 5 3 7 2 Food and income are reported in thousands of dollars per year, and the variable size refers to the number of people in the household. Click here for the Excel Data File a-1. Develop a correlation matrix. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.) 2 Food Income Income 50 points Size eBook a-2. Do you see any problem with multicollinearity? References There is b-1. Determine the regression equation. (Round your answer to 3 decimal places.) The regression equation is: Food = 3.520 Income + size b-2. How much does an additional family member add to the amount spent on food? (Round your answer to the nearest dollar amount.) Another member of the family adds to the food bill. 2 C-1. What is the value of R2? (Round your answer to 3 decimal places.) 50 points R2 eBook c-2. Complete the ANOVA (Leave no cells blank - be certain to enter "0" wherever required. Round SS, MS to 4 decimal places and Fto 2 decimal places.) References Source DF SS MS F p-value Regression Error Total C-3. State the decision rule for 0.05 significance level. Ho: = B1 = B2 = 0; H1: Not all Bi's = 0. (Round your answer to 2 decimal places.) HO is rejected if F> C-4. Can we reject Ho: = B1 = B2 = 0? HO. At least one of the regression coefficients is 2 50 points eBook d-1. Complete the table given below. (Leave no cells blank - be certain to enter "O" wherever required. Round Coefficient, SE Coefficient, P to 4 decimal places and T to 2 decimal places.) References Coefficient SE Coefficient p-value Predictor Constant Income Size d-2. Would you consider deleting either of the independent variables? There is to delete a variable. There is to delete a variable. 2 50 points eBook e. State true or false. References 6 5 Frequency 0- T -0.8 1 -0.6 T 0.2 -0.4 e2 0.0 0.4 0.6 0.8 Residual From the graph the residuals appear normally distributed. True O False f. Choose the right option from the following graph. Residuals Versus the Fitted Values (response is Food) Residual Fitted Value O There is a homoscedasticity problem. O There is no homoscedasticity problem. Excel Chapter 14 Saved Help Save & Exit Submit 2. Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley's Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley's Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information. 50 points Family 1 Size 2 2 eBook 2 3 4 1 References 2 4 Food $4.98 4.08 5.76 3.48 4.20 4.80 4.32 5.04 6.12 3.24 4.80 3.24 6.80 5.01 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Income $ 73.98 54.90 58.20 52.02 65.70 53.64 79.74 68.58 165.60 64.80 138.42 125.82 77.58 158.09 60.30 141.30 36.90 56.88 71.82 69.48 54.36 87.66 38.16 43.74 58.91 4 5 1 3 1 7 6 2 3 5 4 6.60 5.40 6.00 5.40 3.36 4.68 4.32 5.52 4.56 5.40 4.02 1 3 2 5 3 7 2 Food and income are reported in thousands of dollars per year, and the variable size refers to the number of people in the household. Click here for the Excel Data File a-1. Develop a correlation matrix. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.) 2 Food Income Income 50 points Size eBook a-2. Do you see any problem with multicollinearity? References There is b-1. Determine the regression equation. (Round your answer to 3 decimal places.) The regression equation is: Food = 3.520 Income + size b-2. How much does an additional family member add to the amount spent on food? (Round your answer to the nearest dollar amount.) Another member of the family adds to the food bill. 2 C-1. What is the value of R2? (Round your answer to 3 decimal places.) 50 points R2 eBook c-2. Complete the ANOVA (Leave no cells blank - be certain to enter "0" wherever required. Round SS, MS to 4 decimal places and Fto 2 decimal places.) References Source DF SS MS F p-value Regression Error Total C-3. State the decision rule for 0.05 significance level. Ho: = B1 = B2 = 0; H1: Not all Bi's = 0. (Round your answer to 2 decimal places.) HO is rejected if F> C-4. Can we reject Ho: = B1 = B2 = 0? HO. At least one of the regression coefficients is 2 50 points eBook d-1. Complete the table given below. (Leave no cells blank - be certain to enter "O" wherever required. Round Coefficient, SE Coefficient, P to 4 decimal places and T to 2 decimal places.) References Coefficient SE Coefficient p-value Predictor Constant Income Size d-2. Would you consider deleting either of the independent variables? There is to delete a variable. There is to delete a variable. 2 50 points eBook e. State true or false. References 6 5 Frequency 0- T -0.8 1 -0.6 T 0.2 -0.4 e2 0.0 0.4 0.6 0.8 Residual From the graph the residuals appear normally distributed. True O False f. Choose the right option from the following graph. Residuals Versus the Fitted Values (response is Food) Residual Fitted Value O There is a homoscedasticity problem. O There is no homoscedasticity