Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results. What is the percentage of variations in Debt explained by the regression model that provides the best fit?

Question

Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results.

What is the percentage of variations in Debt explained by the regression model that provides the best fit?

Quizplus · Accepted Answer

The Answer of Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results.  What is the percentage of variations in Debt explained by the regression model that provides the best fit?

Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship