Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For this question, use the following multiple regression output (which may differ from the output in other questions, even though the variables are the same).

For this question, use the following multiple regression output (which may differ from the output in other questions, even though the variables are the same).

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.732
R Square 0.536
Adjusted R Square 0.511
Standard Error 4451.652
Observations 100
ANOVA
df SS MS F Significance F
Regression 5 2148222488 429644497.6 21.680 2.246E-14
Residual 94 1862816975 19817201.86
Total 99 4011039463
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 528.896 2512.847 0.210 0.8338 -4460.421 5518.213
Annual Income ($1000) 139.220 15.531 8.964 2.936E-14 108.382 170.058
Household Size 821.824 232.404 3.536 0.0006 360.381 1283.266
Education -1104.740 299.596 -3.687 0.0004 -1699.595 -509.885
TV Hours 20.638 27.201 0.759 0.4499 -33.371 74.646
Age -8.312 45.476 -0.183 0.8554 -98.607 81.982

Find the predicted annual charges for a 44-year old customer with an annual income of $65 (thousand), a household size of 5, 2 years of post-high school education, 32 hours of watching television per week.

Group of answer choices

$10,755

$398

$27,964

$8,155

$11,773

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

Accounting And Auditing Research Tools And Strategies

Authors: Thomas Weirich, Thomas C. Pearson, Alan Reinstein

6th Edition

032430224X, 9780324302240

More Books

Students also viewed these Accounting questions

Question

Describe the disciplinary action process.

Answered: 1 week ago