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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 |
How much variation in annual charges is explained by the model?
Group of answer choices
2.246x10-14
4451.652
51.1%
53.6%
73.2%
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