Compute the mean and standard deviation for the income ($10005), household size, and amount charged ($). (Round your answers to two decimal places.) _ Mean Standard Deviation Income ($10005) Household Size Amount Charged ($) Develop an estimated regression equation using annual income ($10005) as the independent variable and annual credit card charges as the dependent variable. (Round your numerical values to the nearest integer.) y: X Compute R2. (Round your answer to three decimal places.) R2=:]x Develop an estimated regression equation using household size as the independent variable and annual credit card charges as the dependent variable. (Round your numerical values to the nearest integer.) y': X Compute R2. (Round your answer to three decimal places.) Reg): which variable is the better predictor of annual credit card charges? Discuss your findings. The better predictor is evidenced by the / value of R2. Therefore, the household size V J is the better predictor of annual credit card charges. Develop an estimated regression equation with annual income and household size as the independent variables. (Let x1 represent the annual income ($1,0005), x2 represent the household size, and y represent the annual credit card charges. Round your numerical values to the nearest integer.) [7 Compute R52. (Round your answer to three decimal places.) 1 Re Plot the standardized residuals against the predicted annual credit charges. Discuss your ndings from this analysis. (Consider a proportion large if it is at least 0.55.) Since Ra2 is i large vi J ,the estimated regression equation provides vi J a good t. The plot of the standardized residuals shows 3 v J residuals outside the range of 2 and +2. Thus, we i have v J reason to conclude that the error term is normally distributed. Use the estimated regression equation to predict the annual credit card charges (in $) for a three-person household with an annual income of $40,000. (Round your answer to the nearest dollar.) $ X