Question

In: Statistics and Probability

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: Suppose a households annual income is $60,000. Predict how much they spend on food per year. Write the model and show the work to get the answer.
  • PART 3: Now, develop a regression model to predict Annual Food Spending by Annual Household Income for those living in the Metro area only and output the results. Include the Regression Statistics, ANOVA, and table of Coefficients for each model.
  • PART 4: Suppose a households annual income for those living in the metro area only is $60,000. Predict how much they spend on food per year. Write the model and show the work to get the answer.

Solutions

Expert Solution


Related Solutions

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 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...
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, 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 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 to predict the number of...
Use Excel to develop a regression model for the Hospital Database to predict the number of Personnel by the number of Births. How many residuals are within 1 standard error? Write your answer as a whole number. Personnel Births 792 312 1762 1077 2310 1027 328 355 181 168 1077 3810 742 735 131 1 1594 1733 233 257 241 169 203 430 325 0 676 2049 347 211 79 16 505 2648 1543 2450 755 1465 959 0 325...
Use Excel to develop a regression model for the Hospital Database to predict the number of...
Use Excel to develop a regression model for the Hospital Database to predict the number of Personnel by the number of Births. How many residuals are within 1 standard error? Write your answer as a whole number. Personnel(y) Births(x) 792 312 1762 1077 2310 1027 328 355 181 168 1077 3810 742 735 131 1 1594 1733 233 257 241 169 203 430 325 0 676 2049 347 211 79 16 505 2648 1543 2450 755 1465 959 0 325...
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...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT