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


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