Question
In: Statistics and Probability
Suppose we wish to build a multiple regression model to predict the cost of rent (dollars)...
Suppose we wish to build a multiple regression model to predict the cost of rent (dollars) in a city based on population (thousands of people), and income (thousands of dollars). Use the alpha level of 0.05.
| City | Monthly Rent ($) | 2018 Population (Thousands) | 2010 Median Income (Thousands of Dollars) |
| Denver, CO | 998 | 586.158 | 45.438 |
| Birmingham, AL | 711 | 212.237 | 301.704 |
| San Diego, CA | 1414 | 1307.402 | 61.962 |
| Gainesville, FL | 741 | 124.354 | 28.653 |
| Winston-Salem, NC | 750 | 239.617 | 41.979 |
| Memphis, TN | 819 | 646.889 | 36.535 |
| Austin, TX | 900 | 790.39 | 51.236 |
| Seattle, WA | 1219 | 618.66 | 58.99 |
| Richmond, VA | 735 | 204.214 | 37.735 |
| Charleston, SC | 812 | 120.083 | 47.799 |
| College Park, MD | 1407 | 30.413 | 66.9 |
| Savannah, GA | 789 | 136.286 | 32.778 |
| Minneapolis, MN | 988 | 394.578 | 45.625 |
| Detroit, MI | 650 | 713.777 | 29.447 |
| Baton Rouge, LA | 827 | 229.493 | 35.436 |
5. What are the values of the estimated slope for the variable “Population”? Interpret the value in terms of actual names of IVs and the DV.
6. Does Income significantly influence the Rent at the alpha level of 0.01? Make sure to show which values you use to make the decision.
7. Does Population significantly influence the Rent at the alpha level of 0.01? Make sure to show which values you use to make the decision.
Solutions
orchestra answered 2 years agoRelated Solutions
Suppose we wish to build a multiple regression model to predict the cost of rent (dollars)...
Suppose we wish to build a multiple regression model to predict
the cost of rent (dollars) in a city based on population (thousands
of people), and income (thousands of dollars). Use the alpha level
of 0.05.
A. Is the whole regression model effective in predicting
the cost of rent? Use alpha of 0.1. Make sure to show which values
you use to make the decision.
B. Write down the multiple regression equation using
actual names of IVs and DVs.
C....
We want to build a multiple regression model to predict sr (the “Savings Ratio”) in the LifeCycleSavings datase
Use α = 0.05 unless told otherwise.
--Everything should be r-code base.
--data set is built-in in r code. Just type in LifeCycleSavings.
--DATA ALREADY EXIST IN R. PLEASE JUST TYPE IN LifeCycleSavings in R.
--DATA IS NOT MISSING
We want to build a multiple regression model to predict sr (the “Savings Ratio”) in the LifeCycleSavings dataset (see ?LifeCycleSavings for more background info).
a. Build a model that uses all the other variables in the data frame as predictors, including...
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Locate the observed value that is in Industrial Group 12 and has
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SIC Code
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watching television per week.
Data has been collected on 30 randomly selected individuals:
hide data
Download the data
Final score
Mid-term Score
Hours studying
per week
Hours watching TV
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76
85
19
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Data has been collected on 30 randomly selected individuals:
hide data
Heart Rate
(bpm)
Age
(yrs)
Weight
(lb)
Height
(in)
78
23
245
70
91
44
223
68
79
42
178
67
60
33
200
58
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25
99
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35
123
64
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200
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Use the following data to develop a multiple regression model to predict from and . Discuss...
Use the following data to develop a multiple regression model to
predict from and . Discuss the output, including comments about the
overall strength of the model, the significance of the regression
coefficients, and other indicators of model fit. y x1 x2 198 29
1.64 214 71 2.81 211 54 2.22 219 73 2.70 184 67 1.57 167 32 1.63
201 47 1.99 204 43 2.14 190 60 2.04 222 32 2.93 197 34 2.15
Appendix A Statistical Tables *(Round...
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1.Develop a multiple linear regression model to predict the price of a house using the square...
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