Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 6 4 pts Suppose you estimate a regression as follows: foodexp, - Q+B;'income, + B2 people, where 'foodexp' is the annual number of dollars

image text in transcribed
image text in transcribed
Question 6 4 pts Suppose you estimate a regression as follows: foodexp, - Q+B;'income, + B2 people, where 'foodexp' is the annual number of dollars spent (in thousands), 'income' is annual household income (in thousands), and people'is the number of household residents. Excel produces the following output 10. Suppose your household has three residents and an income of $45k. What is the estimated annual food expenditure? $7,406 $52.264 $13,079 $12,389 $38,183 d ys Review View + Share - Calibri (Body) 11 A A A A E . BIU.abe X2 x? A.S.A. EZZE Paste A Styles - Styles Pane 1 SUMMARY OUTPUT 3 Regression Statistics 4 Multiple R 0.67042681 5 R Square 0.449472108 6 Adjusted R Square 0.418013371 7 Standard Error 4.290699764 8 Observations 38 10 ANOVA of Significance 2.90829E-05 12 Regression 13 Residual 14 Total SS MS F 526.0750633 263.0375317 14.28757187 644,3536564 18.41010447 1170.42872 2 35 37 17 Intercept 18 X Variable 1 19 X Variable 2 Coefficients Standard Error Stor P-value Lower 95 Upper 958 Lower 95.ON Upper 95.0% 2.243233652 2668783692 0.840545324 0.4063084733.174685345 7.661152549 3.17685345 7.661152549 0.154455057 0.035402031 4.645356617 4.66023 05 0.092585115 0.216325 0.092565115 0.216325 1.145061407 0.414424205 2.763017681 0.009057219 0.103735547 1.986137266 0.101735547 1.985387266

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

More Books

Students also viewed these Finance questions

Question

List the components of the strategic management process. page 72

Answered: 1 week ago