Variable Definitions & Descriptive Statistics Which variable is the dependent variable and what are the independent variables? What do the variables mean and what are their units of measurement? Present this in a table in Word. Present descriptive statistics for the dependent variable by using Excel to calculate the mean, median, mode and standard deviation. Present this in a table in your Word document. Use Excel to create a histogram of your dependent variable. Copy this histogram to your Word document and comment on whether it is skewed and unimodal, bimodal or multimodal. . Use Excel to create a correlation matrix for all variables. Copy this correlation matrix to your Word document and comment on the degree of correlation among the independent variables. c) Multiple Linear Regression Analysis (MLR) (b has been deleted) Perform two different MLRs of your dependent variable against a selection of your independent variables, and use the Partial F-test to compare the two models. On the basis of this test, which of the two models is the preferred one? Comment on why this is the preferred model. Given the correlations among the independent variables that you found earlier, are there any reasons to believe that we may have substantial multicollinearity? What does this mean? Comment on this in your Word document and, if necessary, undertake a remedy.O A F N C E H K M P B D G Date IC Price Income Temp Lag-temp Year Variable Definitions IN 1 0.386 0.27 78 41 56 0 Date: Time period (1-30) of the study (from 3/18/51 to 7/11/53) 0.374 0.282 79 56 63 0 IC: Ice cream consumption in pints per capita 4 0.393 0.277 81 63 68 0 Price: Price of ice cream per pint in dollars AWN 0.425 0.28 80 68 69 0 Income: Weekly family income in dollars 6 5 0.406 0.272 76 69 65 0 Temp: Mean temperature in degrees F. 6 0.344 0.262 78 65 61 0 Lag-temp: Temp variable lagged by one time period 8 7 0.327 0.275 82 61 47 0 Year: Year within the study (0 = 1951, 1 = 1952, 2 =1953) CO 0.288 0.267 79 47 32 9 0.269 0.265 76 32 24 10 0.256 0.277 79 24 28 - HOOO 11 0.286 0.282 82 28 26 12 0.298 0.27 85 26 32 13 0.329 0.272 86 32 40 14 0.318 0.287 83 40 55 6 15 0.381 0.277 84 55 63 17 16 0.381 0.287 82 63 72 18 17 0.47 0.28 80 72 72 LO 18 0.443 0.277 78 72 67 20 19 0.386 0.277 84 67 60 21 20 0.342 0.277 86 60 44 22 21 0.319 0.292 85 44 40 22 0.307 0.287 87 40 32 24 23 0.284 0.277 94 32 27 25 24 0.326 0.285 92 27 28 N N N N N N N PP PP 26 25 0.309 0.282 95 28 33 27 26 0.359 0.265 96 33 41 28 27 0.376 0.265 94 41 52 28 0.416 0.265 96 52 64 BO 29 0.437 0.268 91 64 71 B1 30 0.548 0.26 90 71 32