Question
The following table gives the data for per capita income in thousands of US dollars with the percentage of the labor force in Agriculture, the
The following table gives the data for per capita income in thousands of US dollars with the percentage of the labor force in Agriculture, the average years of schooling of the population over 25 years of age, and overall health index for 15 developed countries in 2015 (data modified for educational purpose). Develop a multiple regression model for per capita income (dependent variable) using Excel and answer the questions below the table. You can use symbols Y, X1, X2 and X3 for the variables in your calculation. Show your computer output.
Country number | per capita | % of labor in Agriculture | Average yrs of schooling | Overall Health Index |
1 | 32 | 12 | 7 | 70 |
2 | 42 | 10 | 12 | 80 |
3 | 41 | 8 | 11 | 77 |
4 | 38 | 9 | 9 | 75 |
5 | 40 | 10 | 10 | 76 |
5 | 52 | 5 | 16 | 95 |
7 | 44 | 7 | 10 | 82 |
8 | 41 | 7 | 11 | 80 |
9 | 46 | 6 | 13 | 85 |
10 | 50 | 8 | 15 | 92 |
11 | 47 | 7 | 11 | 90 |
12 | 53 | 4 | 16 | 98 |
13 | 48 | 6 | 14 | 90 |
14 | 47 | 7 | 12 | 85 |
15 | 50 | 6 | 15 | 90 |
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