Mr. Right has recently retired from his job as a company executive. As a fitness enthusiast, he plans on putting up a gym using the money he got from retirement. He wants to know the ideal pricing level for his target clients , as the gym is going to be located in a placethat is near to a school and office buildings.He identified some important variables to take into consideration. He drafted the survey form, incorporated these in the survey forms and sent them out to target clients.See the excel file for the summary of answers.

Requirements: Using the budget for a gym class as the dependent variable,

1. Compute for the R²using excel. Discuss the meaning of it.

2. Compute for the coefficients /slope of each variable using the excel. Discuss the meaning of each.

3. Identify which variables are statistically significant variables that should be included in his demand function.

4.Give other important variables (numerical or categorical) that can affect the budget for fitness/gym classes

trust level on the effectiveness months Weight in of a average average enrolled in pounds) at gym/fitness allowance/income in expenses fitness budget for fitness Age the start class a month in a month height (in feet) classes/gym class/gym 19 140 5000 4,800 5.6 1000 20 142 6000 7,000 5.2 1,050 25 165 25,000 13,000 5.8 1200 28 168 28000 25,000 5.3 1250 35 180 37200 25,000 6 10 1500 38 178 32,800 30,000 5.4 9 1450 25 180 38,500 20,000 5.5 11 1550 40 192 40,000 26,000 4.8 12 1700 45 203 42,000 35,000 5.1 14 2000 35 197 39,000 32,500 5.9 13 1800 37 196 38,800 30,000 5.4 12 1800 36 190 37,000 31,000 5.6 11 1750 28 188 36,500 27,000 5.8 10 1700 22 165 24,500 16,000 5.8 7 1280 19 144 6,500 20,000 5.9 6 1100 42 198 39,000 37,300 6.1 14 1900 43 195 35,800 30,400 5 12 1800 38 194 38,900 32,000 5.6 13 1800 19 144 6,500 20,000 5.9 6 1100 42 198 39,000 37,300 6.1 14 1900 25 165 25,000 13,000 5.8 7 1200 28 168 28000 25,000 5.3 8 1250 35 180 37200 25,000 6 11 1500 38 178 32,800 30,000 5.7 12 1450 25 180 38,500 20,000 5.5 8 1550 40 192 40,000 26,000 5.7 13 1700 45 203 42,000 35,000 5.3 14 2000 35 197 39,000 32,500 5.9 10 1800 37 196 38,800 30,000 5.4 13 1800