Question
In: Accounting
create a regression model for the Wedding Cost data set, using Wedding Cost as the dependent...
create a regression model for the Wedding Cost data set, using Wedding Cost as the dependent variable, and all other variables as independent variables. Try whether the Bride and Groom were payors for the wedding, and at least one additional interaction term in the model. Do that by Excel
| Couple's Income | Bride's age | Payor | Wedding cost | Attendance | Value Rating |
| $130,000 | 22 | Bride's Parents | $60,700.00 | 300 | 3 |
| $157,000 | 23 | Bride's Parents | $52,000.00 | 350 | 1 |
| $98,000 | 27 | Bride & Groom | $47,000.00 | 150 | 3 |
| $72,000 | 29 | Bride & Groom | $42,000.00 | 200 | 5 |
| $86,000 | 25 | Bride's Parents | $34,000.00 | 250 | 3 |
| $90,000 | 28 | Bride & Groom | $30,500.00 | 150 | 3 |
| $43,000 | 19 | Bride & Groom | $30,000.00 | 250 | 3 |
| $100,000 | 30 | Bride & Groom | $30,000.00 | 300 | 3 |
| $65,000 | 24 | Bride's Parents | $28,000.00 | 250 | 3 |
| $78,000 | 35 | Bride & Groom | $26,000.00 | 200 | 5 |
| $73,000 | 25 | Bride's Parents | $25,000.00 | 150 | 5 |
| $75,000 | 27 | Bride & Groom | $24,000.00 | 200 | 5 |
| $64,000 | 25 | Bride's Parents | $24,000.00 | 200 | 1 |
| $67,000 | 27 | Groom's Parents | $22,000.00 | 200 | 5 |
| $75,000 | 25 | Bride's Parents | $20,000.00 | 200 | 5 |
| $67,000 | 30 | Bride's Parents | $20,000.00 | 200 | 5 |
| $62,000 | 21 | Groom's Parents | $20,000.00 | 100 | 1 |
| $75,000 | 19 | Bride's Parents | $19,000.00 | 150 | 3 |
| $52,000 | 23 | Bride's Parents | $19,000.00 | 200 | 1 |
| $64,000 | 22 | Bride's Parents | $18,000.00 | 150 | 1 |
| $55,000 | 28 | Bride's Parents | $16,000.00 | 100 | 5 |
| $53,000 | 31 | Bride & Groom | $14,000.00 | 100 | 1 |
| $62,000 | 24 | Bride's Parents | $13,000.00 | 150 | 1 |
| $40,000 | 26 | Bride's Parents | $7,000.00 | 50 | 3 |
| $45,000 | 32 | Bride & Groom | $5,000.00 | 50 | 5 |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Using the Excel file Weddings, apply the Regression tool using the wedding cost as the dependent...
Using the Excel file Weddings, apply the
Regression tool using the wedding cost as the dependent
variable and attendance as the independent variable.
What is the regression model?
Interpret all key regression results, hypothesis tests, and
confidence intervals in the output.
If a couple is planning a wedding for 175 guests, how much
should they budget?
Couple's Income
Bride's age
Payor
Wedding cost
Attendance
Value Rating
$130,000
22
Bride's Parents
$60,700.00
300
3
$157,000
23
Bride's Parents
$52,000.00
350
1...
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