Personal Spending and Personal Income
Is personal spending linearly related to orders for durable goods and personal income? A recent study reported the amounts of personal spending (in trillions of dollars), amount spent on durable goods (in billions of dollars), and personal income (in trillions of dollars). A statistical package was used to fit a linear regression model, producing the output below. R 2 = 95.9% R 2 (adj) = 95.0%, s = 0.0144 with 12 - 3 = 9 df.
-Refer to Personal Spending and Personal Income. Use the computer output shown above to test the hypotheses vs. at the 5% significance level. What is your conclusion?

Question

Personal Spending and Personal Income
Is personal spending linearly related to orders for durable goods and personal income? A recent study reported the amounts of personal spending (in trillions of dollars), amount spent on durable goods (in billions of dollars), and personal income (in trillions of dollars). A statistical package was used to fit a linear regression model, producing the output below.   R 2 = 95.9% R 2 (adj) = 95.0%, s = 0.0144 with 12 - 3 = 9 df.
-Refer to Personal Spending and Personal Income. Use the computer output shown above to test the hypotheses  vs.  at the 5% significance level. What is your conclusion?

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The Answer of Personal Spending and Personal Income
Is personal spending linearly related to orders for durable goods and personal income? A recent study reported the amounts of personal spending (in trillions of dollars), amount spent on durable goods (in billions of dollars), and personal income (in trillions of dollars). A statistical package was used to fit a linear regression model, producing the output below.   R 2 = 95.9% R 2 (adj) = 95.0%, s = 0.0144 with 12 - 3 = 9 df.
-Refer to Personal Spending and Personal Income. Use the computer output shown above to test the hypotheses  vs.  at the 5% significance level. What is your conclusion?