Question

In: Statistics and Probability

Use the “Consumer Food” Database on “Excel Databses.xls”. As the researcher you are interested in predicting...

Use the “Consumer Food” Database on “Excel Databses.xls”. As the researcher you are interested in predicting the annual food spending according to annual household income as well as a qualitative variable: location or region.

Link to data: https://drive.google.com/file/d/1YMYMy7H0sLRZJzXwFKMrANuAGxmp-z9I/view?usp=sharing

Please use excel and post step by step

Construct two regression models to predict annual food spending:

  • Model 1: Food = b0 + b1Income + b2Metro
  • Model 2: Food = b0 + b1Income + b2NE + b3MW+ b4S

NOTES:

  • DO NOT: Print the data.
  • DO: Only print the results of each model from Excel (i.e. Print the Summary Output, ANOVA, and Table of Coefficients from each model
  • DO NOT: Include the residual output to turn in.

Must complete all the parts to this problem:

  • PART 1: Output the results from Excel for Model 1.
  • PART 2: Output the results from Excel for Model 2.
  • PART 3: Write the model (estimated regression equation) using your output for Model 1. Then calculate the predicted annual food spending for a household outside the metro area that has $60,000 income.
  • PART 4: Write the model using your output for Model 2. Then calculate the predicted annual food spending for a household that has a $35,000 income and is located in the South.

Solutions

Expert Solution

ANSWER:

part 1

Food = -1160.21 + 0.181073 Income+336.27 *Metro

part 2

Food = -1134.07 + 0.181387 Income+197.30 NE-84.27*MW -193.50 *S

part 3

metro=0

income=60000

so food= -1160.21 + 0.181073 *60000=9704.17

part 4

income=35000

S=1

Food = -1134.07 + 0.181387 *35000 -193.50 =5020.975.

please up-vote the solution

orchestra answered 2 years ago
Next > < Previous

Related Solutions

Use Excel to develop a regression model for the Consumer Food Database (using the “Excel Databases.xls”...
Use Excel to develop a regression model for the Consumer Food Database (using the “Excel Databases.xls” file) to predict Annual Food Spending by Annual Household Income. Assume a 5% level of significance. (file here: https://drive.google.com/file/d/13uDUXwoSRZHEUtjMUedu2yjR_4lrLepC/view?usp=sharing ) Must complete all the parts to this problem: PART 1: Perform a simple linear regression in Excel to predict Annual Food Spending by Annual Household Income and output the results. Include the Regression Statistics, ANOVA, and table of Coefficients for each model. PART 2:...
1) Use Excel to develop a regression model for the Consumer Food Database (using the “Excel...
1) Use Excel to develop a regression model for the Consumer Food Database (using the “Excel Databases.xls” file on Blackboard) to predict Annual Food Spending by Annual Household Income for those living in the Metro area only.    Suppose a household in the metro area has an annual income of $60,000. Predict how much they spend on food per year. Write your answer as a number (do not include the $ sign or comma) and round to 2 decimal places....
Use the International Stock Market database from “Excel Databases.xls” on Blackboard. Use Excel to develop a...
Use the International Stock Market database from “Excel Databases.xls” on Blackboard. Use Excel to develop a multiple regression model to predict the DJIA by the Nasdaq, the S&P 500, the Nikkei, the Hang Seng, the FTSE 100, and the IPC. Performing a stepwise regression analysis at a 5% level of significance, which independent variable is the best single predictor of the DJIA? This is Step 1 of the stepwise regression. Nasdaq S&P 500 Nikkei Hang Seng FTSE 100 IPC https://drive.google.com/file/d/19TI3HId0greXS0nkmDuoITv1IMPF_TUK/view?usp=sharing...
QUESTION 8 Use the Manufacturing database from “Excel Databases.xls” on Blackboard. Use Excel to develop a...
QUESTION 8 Use the Manufacturing database from “Excel Databases.xls” on Blackboard. Use Excel to develop a multiple regression model to predict Cost of Materials by Number of Employees, Number of Production Workers, Value Added by Manufacture, New Capital Expenditures, and End-of-Year Inventories. Use Excel to perform a backward elimination regression analysis at a 5% level of significance. What is the test statistic of the independent variable that is dropped from the linear model in the first step. Write your answer...
Use the International Stock Market database from “Excel Databases.xls” on Blackboard. Use Excel to develop a...
Use the International Stock Market database from “Excel Databases.xls” on Blackboard. Use Excel to develop a multiple regression model to predict the Nikkei by the DJIA, the Nasdaq, the S&P 500, the Hang Seng, the FTSE 100, and the IPC. Assume a 1% level of significance. What percent of residuals are within 1 standard error? Write your answer as a number rounded to 1 decimal place. Do not include the % sign in your answer. Excel Data: https://drive.google.com/file/d/1TQG5r2wzLGk--75whZXyb0SDTHZTWS0S/view?usp=sharing
Use the Manufacturing database from “Excel Databases.xls” on Blackboard. Use Excel to develop a multiple regression...
Use the Manufacturing database from “Excel Databases.xls” on Blackboard. Use Excel to develop a multiple regression model to predict Cost of Materials by Number of Employees, New Capital Expenditures, Value Added by Manufacture, and End-of-Year Inventories. Locate the observed value that is in Industrial Group 12 and has 7 employees. Based on the model and the multiple regression output, what is the corresponding residual of this observation? Write your answer as a number, round to 2 decimal places. **Answer should...
Use the International Stock Market database from “Excel Databases.xls” on Blackboard. Use Excel to develop a...
Use the International Stock Market database from “Excel Databases.xls” on Blackboard. Use Excel to develop a multiple regression model to predict the DJIA by the Nasdaq, the S&P 500, the Nikkei, the Hang Seng, the FTSE 100, and the IPC. Performing a stepwise regression analysis at a 5% level of significance, add the independent variable from Step 2 and continue to perform the stepwise regression analysis until you have reached the best linear model. Which independent variables are in the...
Use Excel to develop a regression model for the Hospital Database (using the “Excel Databases.xls” file...
Use Excel to develop a regression model for the Hospital Database (using the “Excel Databases.xls” file on Blackboard) to predict the number of Personnel by the number of Births. Perform a test of the overall model, what is the value of the test statistic? Write your answer as a number, round your answer to 2 decimal places. SUMMARY OUTPUT Regression Statistics Multiple R 0.697463374 R Square 0.486455158 Adjusted R Square 0.483861497 Standard Error 590.2581194 Observations 200 ANOVA df SS MS...
1. You are interested in predicting the final grade of students in a business course. You...
1. You are interested in predicting the final grade of students in a business course. You collect data on the number of hours studied and final grade for 8 students. Using the data provided below, find the predicted linear regression equation. Copy the data below into an excel spreadsheet, (or you can to this long hand on notebook paper).  You must show all of your calculations. Take calculations out to the 4th decimal place. Do not round up or round down....
The consumer food database contains five variables: Annual Food Spending per Household, Annual Household Income, Non-Mortgage...
The consumer food database contains five variables: Annual Food Spending per Household, Annual Household Income, Non-Mortgage Household Debt, Geographic Region of the U.S. of the Household, and Household Location. There are 200 entries for each variable in this database representing 200 different households from various regions and locations in the United States. Annual Food Spending per Household, Annual Household Income, and Non-Mortgage Household Debt are all given in dollars. The variable Region tells in which one of four regions the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT