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Question 4 Use R to predict Cost based upon all other variables in the data set drugcost from the package alr4. You may look at
Question 4 Use R to predict Cost based upon all other variables in the data set drugcost from the package "alr4". You may look at the help file for drugcost for details of what each variable is. You do not need to submit RMarkdown, nor produce the R output directly in your submission for this question. (Hint: Histograms may be useful tools.) Answer the following questions regarding the results: a) Discuss whether you think the overall model fits well. Provide two pieces of evidence from the output of your model. b) Does at least one of the predictors have a statistically significant slope? Address this with a single hypothesis test (reporting the test statistic and p-value). c) Report 8 and the p-values associated with each t-test. What predictors are statistically significant? For each statistically significant predictor, briefly comment on whether you think it is practically significant. Question 4 Use R to predict Cost based upon all other variables in the data set drugcost from the package "alr4". You may look at the help file for drugcost for details of what each variable is. You do not need to submit RMarkdown, nor produce the R output directly in your submission for this question. (Hint: Histograms may be useful tools.) Answer the following questions regarding the results: a) Discuss whether you think the overall model fits well. Provide two pieces of evidence from the output of your model. b) Does at least one of the predictors have a statistically significant slope? Address this with a single hypothesis test (reporting the test statistic and p-value). c) Report 8 and the p-values associated with each t-test. What predictors are statistically significant? For each statistically significant predictor, briefly comment on whether you think it is practically significant
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