OW JOHNS HOPKINS CAREY BUSINESS SCHOOL SUMMARY OUTPUT M6: Regression Analysis Mini-Case Assignment Multiple A Regression Statistics 0.980501258 0.961382717 Scenario Script: R Square Adjusted R 59 0.359295296 Standard Error 27.83077172 caption Observations 40 ANOVA Princess Foods wants to determine if there is a relationship in the amount a household spends on MS Significance F prepared foods to family size and income. Regression 713455.378 356727.689 460.5601123 7.16905E-27 Parthika: Residual 37 28658.41861 774 5518544 742113.7966 still have data collected from a previous marketing study. Let's use that. We have an Excel file. I am sure we can find the spreadsheet. It should have the exact information we need. 14 23504969 + Stat P-value Lower 95% Intercept 32.39624586 Upper S5% 6 693091949 4.287694761 0.00012396 90.44706391 Liwel: Yes, this could be interesting. We may find enough evidence to rethink the meal preparation Family size 3.607684799 2.686790141 2.3832282 17.0029557 kits again. 0.132165589 0.007535354 0.01074241 Gross monthly income 17.5393906 1 6178E-19 >0.116897511 0.147433667 Bonnie: Great idea. We need to know it the data is a good fit and what the exact relationship is between the dependent variable and the independent variables. We can use this information to help us design perhaps a new line of prepared frozen foods. y = 61.42 + 9.69x1 + 0.13X2 Parthika Interpretation: Holding everything else constant, for each unit increased dollars spent on prepared Yes, what about the prepackaged salad bowls. We really need to see this data. Holding everything else constant, for each unit increase in gross monthly income, dollars spent on Bonnie: prepared foods will increase by . 13 units. Yes, let's get right on this. Question:- If p-value for incane is Smaller, does that mean Mini-Case Assignment Please use the attached spreadsheet and Excel to determine the equation that represents the relationship and Income has a more significant effect than explain the goodness of fit. family size ? Based on the data, write a memo and interpret the results. How might this data be used? Should I base Significance on p-value of Due Dates coefficient ? 11:59pm ET, Sunday. Grading Criteria and Guidelines Grading criteria and detailed instructions for submission of assignments are available on the course website