Question
You should have explored the demo_1500.sav data file (an SPSS statistics data file) that is available in Module 1's Multimedia. An entry-level researcher is assigned
You should have explored the "demo_1500.sav" data file (an SPSS statistics data file) that is available in Module 1's Multimedia. An entry-level researcher is assigned by the senior team leader to build a multiple regression model with the goal of predicting the price of a household's primary vehicle. The research suspects that one's household income ("income") has a positive impact on the primary vehicle's price ("car"). In addition, the researcher also expects that the respondent's retirement status ("retired") has a significant impact on the primary vehicle's price. Please conduct a multiple regression analysis to explain the impact of income and retirement status on the price of the primary vehicle. Specifically, please answer the following two sub- questions: P2a. Construct a multiple regression model encompassing the three specified variables. Then, assist the researcher in formulating three distinct sets of hypotheses. The first set will center on assessing the overall significance of the regression model under consideration. Meanwhile, the remaining sets will delve into scrutinizing the impact of household income on car prices and the influence of retirement status on car prices, independently. In order to maintain the simplicity of the multiple regression model, it is unnecessary to investigate potential interaction effects between household income and retirement status. 8 points (Please refrain from disclosing whether each of the individual sets of null hypotheses would be rejected when you solve P2a. Instead, include your hypothesis-testing conclusions and interpretation as part of your P2b answer. Failure to adhere to this rule may cause confusion, and partial credit, up to 4 points for P2a, may be awarded as a result). P2b. Please specify the estimated multiple regression equation (i.e., please reveal the estimated regression coefficients), and determine whether the three hypotheses would be rejected or not. Please highlight the key statistics on the SPSS-Statistics tables, such as the adjusted R-squared value, estimated regression coefficients, and various significance values (Sig.). Subsequently, incorporate these numbers into the main body of your response. Additionally, I trust you will fulfill the interpretation requirement without further reminders.
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