Is there a particular product that is an indicator of per capita personal consum

Question

Is there a particular product that is an indicator of per capita personal consumption for countries around the world? Shown below are data on per capita personal consumption, paper consumption, fish consumption, and gasoline consumption for 11 countries. Use the data to develop a multiple regression model to predict per capita personal consumption by paper consumption, fish consumption, and gasoline consumption. Discuss the meaning of the partial regression weights.

(Round your answers to 4 decimal places.)

The regression equation is: Per Capita = ______+ (_____) Paper Consumption + (_______) Fish Consumption + _______Gasoline Consumption

For every unit increase in paper consumption, the predicted per capita consumption increases by _______

if fish and gasoline consumption are held constant. For every unit increase in fish consumption, the predicted per capita consumption decrease

by __________

if paper and gasoline consumption are held constant. For every unit increase in gasoline consumption, the predicted per capita consumption increases

by ________ if paper and fish consumption are held constant.

Country Per Capita
Personal
Consumption
($ U.S.) Paper
Consumption
(kg per person) Fish
Consumption
(lbs per person) Gasoline
Consumption
(liters per person) Bangladesh 836 1 23 2 Greece 3,145 85 53 394 Italy 21,785 204 48 368 Japan 37,931 250 141 447 Kenya 276 4 12 16 Norway 1,913 156 113 477 Philippines 2,195 19 65 43 Portugal 3,154 116 133 257 United Kingdom 19,539 207 44 460 United States 109,521 308 47 1,624 Venezuela 622 27 40 528

Explanation / Answer

By using MINITAB ,

Output is,

MTB > Regress;
SUBC> Response 'P C personal consumption';
SUBC> Nodefault;
SUBC> Continuous 'Paper consumption(kg/person' - 'Gasoline consumption(litres/per';
SUBC> Terms C3 C4 C5;
SUBC> Constant;
SUBC> Unstandardized;
SUBC> Tmethod;
SUBC> Tcoefficients;
SUBC> Tequation.

Regression Analysis: P C personal versus Paper consum, Fish consump, Gasoline con

Coefficients

Term Coef SE Coef T-Value P-Value  
Constant -7630 9155 -0.83 0.432
Paper consumption(kg/person ) 116.2259 77.1 1.51 0.175
Fish consumption (lbs/person) -120.0904 126 -0.95 0.373   
Gasoline consumption(litres/per) 45.6590 17.1 2.67 0.032  

Regression Equation

1] Per capita personal consumption = -7630 + 116.2259 Paper consumption(kg/person)
- 120.0904 Fish consumption (lbs/person)
+ 45.6590 Gasoline consumption(litres/person)

2] For every unit increase in paper consumption, the predicted per capita consumption increases by 116.2259

3] if fish and gasoline consumption are held constant. For every unit increase in fish consumption, the predicted per capita consumption decrease by 120.0904

4] if paper and gasoline consumption are held constant. For every unit increase in gasoline consumption, the predicted per capita consumption increases 45.6590 if paper and fish consumption are held constant.

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