A student used multiple regression analysis to study how family spending (Y) is influenced by income (X₁), family size (X₂), and additions to savings (X₃). The variables Y, X₁, and X₃ are measured in thousands of dollars. The following results were obtained.
a.Write out the estimated regression equation for the relationship between the variables.
b.Compute R². What can you say about the strength of this relationship?
c.Carry out a test of whether Y is significantly related to the independent variables. Use a .05 level of significance.
d.Carry out a test to see if X₃ and Y are significantly related. Use a .05 level of significance.

Question

A student used multiple regression analysis to study how family spending (Y) is influenced by income (X₁), family size (X₂), and additions to savings (X₃). The variables Y, X₁, and X₃ are measured in thousands of dollars. The following results were obtained.

A student used multiple regression analysis to study how family spending (Y) is influenced by income (X<sub>1</sub>), family size (X<sub>2</sub>), and additions to savings (X<sub>3</sub>). The variables Y, X<sub>1</sub>, and X<sub>3</sub> are measured in thousands of dollars. The following results were obtained. a.Write out the estimated regression equation for the relationship between the variables. b.Compute R<sup>2</sup>. What can you say about the strength of this relationship? c.Carry out a test of whether Y is significantly related to the independent variables. Use a .05 level of significance. d.Carry out a test to see if X<sub>3</sub> and Y are significantly related. Use a .05 level of significance.

a.Write out the estimated regression equation for the relationship between the variables.
b.Compute R². What can you say about the strength of this relationship?
c.Carry out a test of whether Y is significantly related to the independent variables. Use a .05 level of significance.
d.Carry out a test to see if X₃ and Y are significantly related. Use a .05 level of significance.

Quizplus · Accepted Answer

The Answer of A student used multiple regression analysis to study how family spending (Y) is influenced by income (X₁), family size (X₂), and additions to savings (X₃). The variables Y, X₁, and X₃ are measured in thousands of dollars. The following results were obtained. a.Write out the estimated regression equation for the relationship between the variables. b.Compute R². What can you say about the strength of this relationship? c.Carry out a test of whether Y is significantly related to the independent variables. Use a .05 level of significance. d.Carry out a test to see if X₃ and Y are significantly related. Use a .05 level of significance.

A Student Used Multiple Regression Analysis to Study How Family