The file HW_05.xlsx contains data from a survey of 105 randomly selected households. a. Interpret the...

The file HW_05.xlsx contains data from a survey of 105 randomly selected households.

a. Interpret the ANOVA table for this model. In particular, does this set of independent variables provide at least some power in explaining the variation in the dependent variable? Report the F ratio statistics and p- value for this hypothesis test.

b. Interpret coefficients of independent variables in the model.

c. Using the regression output, determine which of the independent variables should be excluded from the regression equation. Justify your choices.

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.720892391
R Square	0.519685839
Adjusted R Square	0.490278849
Standard Error	276.7505458
Observations	105

ANOVA
	df	SS	MS	F	Significance F
Regression	6	8121168.832	1353528.139	17.67218775	8.86712E-14
Residual	98	7505904.73	76590.86459
Total	104	15627073.56

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	2374.069071	926.2605378	2.563068353	0.011895868	535.9351797	4212.202963	535.9351797	4212.202963
Family Size	4.840418883	36.07766888	0.13416662	0.893545971	-66.75454085	76.43537862	-66.75454085	76.43537862
Ownership	702.453971	254.1314117	2.764136737	0.006819009	198.1384553	1206.769487	198.1384553	1206.769487
First Income	0.003873026	0.003969221	0.975764656	0.331583598	-0.004003765	0.011749817	-0.004003765	0.011749817
Second Income	-0.001647966	0.00390663	-0.421838302	0.674066972	-0.009400547	0.006104614	-0.009400547	0.006104614
Utilities	-9.501699186	4.780520124	-1.987586903	0.049647926	-18.98848579	-0.014912585	-18.98848579	-0.014912585
Debt	0.075526964	0.031183362	2.422027588	0.017272247	0.013644596	0.137409332	0.013644596	0.137409332



RESIDUAL OUTPUT

Observation	Predicted Monthly Payment	Residuals
1	1283.656875	301.343125
2	811.8650323	502.1349677
3	740.136117	-357.136117
4	664.9109715	78.08902852
5	772.8995857	218.1004143
6	750.3803306	240.6196694
7	644.4950874	-25.49508743
8	725.8370344	271.1629656
9	881.904887	20.09511304
10	1282.983703	-379.9837033
11	928.0753599	-354.0753599
12	1210.663024	196.3369758
13	1285.798745	-586.7987449
14	1099.112903	-111.1129029
15	547.9950923	198.0049077
16	1245.445513	264.554487
17	1312.700688	-221.7006883
18	571.6552022	-169.6552022
19	595.4694334	100.5305666
20	1400.337463	147.6625366
21	1092.880423	-173.8804234
22	1274.717884	394.2821161
23	1201.313724	-152.3137235
24	973.0428122	-480.0428122
25	1039.080963	-317.0809633
26	1257.141849	166.8581514
27	1092.068254	365.9317455
28	858.0154957	118.9845043
29	1159.382074	-97.38207423
30	1272.201934	387.7980659
31	696.6014074	2.398592648
32	957.713766	-384.713766
33	897.0284126	-149.0284126
34	1197.272226	120.7277742
35	557.7548128	14.2451872
36	578.1809184	90.81908161
37	1279.353171	-7.353170783
38	1163.965973	-79.96597284
39	1316.604504	159.3954956
40	745.0104365	287.9895635
41	830.7975511	-310.7975511
42	883.7911442	-382.7911442
43	1286.382047	5.617952509
44	528.6061347	-38.60613475
45	1156.177396	278.8226044
46	1352.732087	-229.7320871
47	1296.715593	-3.715593069
48	763.0973175	12.90268253
49	1404.895087	-529.8950867
50	1333.792182	200.2078182
51	1321.650183	-38.65018315
52	1192.163015	109.8369849
53	962.8688489	-322.8688489
54	1211.466446	-222.4664463
55	1368.817034	382.1829664
56	750.0197314	-322.0197314
57	665.7799644	222.2200356
58	1378.328756	90.6712441
59	1162.690779	-219.6907794
60	877.1829337	256.8170663
61	1124.189015	153.8109847
62	1104.8985	-90.89850046
63	1522.536888	-385.5368878
64	1282.782166	-451.7821656
65	780.9514237	-202.9514237
66	1071.242456	-31.24245591
67	692.164364	-90.16436399
68	799.0201015	-177.0201015
69	721.4005698	-153.4005698
70	713.3984386	-183.3984386
71	1238.49963	11.50037036
72	1212.513585	87.48641507
73	679.6402337	-103.6402337
74	1057.642086	673.3579144
75	1030.391677	-360.3916768
76	1275.455075	400.5449252
77	1093.559274	-458.5592735
78	1234.956096	-185.9560963
79	1253.486509	334.5134913
80	677.5991373	-22.59913725
81	1090.956117	409.0438825
82	593.1143609	64.88563907
83	762.1428682	-73.14286822
84	1062.675339	-98.67533881
85	693.4603566	-107.4603566
86	1192.488909	10.51109074
87	628.845734	133.154266
88	549.0101359	76.98986411
89	1355.011527	815.9884726
90	1309.5085	-499.5084997
91	1345.31062	114.6893801
92	750.2098958	27.79010421
93	670.9580119	-112.9580119
94	515.0339442	164.9660558
95	1196.856032	-189.8560323
96	1066.47424	185.5257602
97	1474.366915	-7.366915322
98	702.4299074	145.5700926
99	623.2275684	459.7724316
100	1326.672997	143.3270026
101	616.2223025	-116.2223025
102	1156.731836	-165.7318358
103	843.6802517	-255.6802517
104	1435.944822	101.0551778
105	1129.731263	471.2687372

Expert Solution

orchestra answered 1 year ago

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