Many regions along the coast in North and South Carolina and Georgia have experi
ID: 3179443 • Letter: M
Question
Many regions along the coast in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley's Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Food and income are reported in thousands of dollars per year, and the variable size refers to the number of people in the household.
Develop a correlation matrix. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.)
b-1. Determine the regression equation. (Round your answer to 3 decimal places.)
The regression equation is Food=_____+______ Income=_______Size
b-2: How much does an additional family member add to the amount spent on food? (Round your answer to the nearest dollar amount.)
Another member of the family adds $_________to the food bill.
c-1. What is the value of R2? (Round your answer to 3 decimal places.)
c-2. State the decision rule for 0.05 significance level. H0: = 1 = 2 = 0; H1: Not all i's = 0. (Round your answer to 2 decimal places.)
H0 is rejected if F >
c-3. Complete the ANOVA (Leave no cells blank - be certain to enter "0" wherever required. Round SS, MS, P to 3 decimal places and F to 2 decimal places.)
c-4. Can we conclude that this value is greater than 0?
(reject/do not reject) H0. Some of the regression coefficients are (zero/not zero)
d-1. Complete the given below table. (Leave no cells blank - be certain to enter "0" wherever required. Round Coef, SE Coef, P to 3 decimal places and T to 2 decimal places.)
d-2. Would you consider deleting either of the independent variables?
There is (no need/a need) to delete a variable.
e. State true or false.
From the graph the residuals appear normally distributed. (true or false)
f. Choose the right option from the following graph.
there is no homoscedasticity problem or there is a homoscedasticity problem
Family Food Income Size 1 $ 4.07 $ 73.98 5 2 $ 4.08 $ 54.90 2 3 $ 5.76 $ 62.89 4 4 $ 3.48 $ 52.02 1 5 $ 4.20 $ 65.70 2 6 $ 4.80 $ 53.64 4 7 $ 4.32 $ 79.74 3 8 $ 5.04 $ 68.58 4 9 $ 6.12 $ 165.60 5 10 $ 3.24 $ 64.80 1 11 $ 4.80 $ 138.42 3 12 $ 3.24 $ 125.82 1 13 $ 5.48 $ 77.58 7 14 $ 3.77 $ 134.04 5 15 $ 6.60 $ 166.04 5 16 $ 5.40 $ 141.30 3 17 $ 6.00 $ 36.90 5 18 $ 5.40 $ 56.88 4 19 $ 3.36 $ 71.82 1 20 $ 4.68 $ 69.48 3 21 $ 4.32 $ 54.36 2 22 $ 5.52 $ 87.66 5 23 $ 4.56 $ 38.16 3 24 $ 5.40 $ 43.74 7 25 $ 7.80 $ 67.57 2 Source Regression Error Total DF SS MSExplanation / Answer
A:- a) Correlation Matrix
There is no multicollinearity
b) Regression equation-
food=2.84+0.00613 Income +0.425 Size.Food bill increase by 0.6 cent by another dollar.Another member adds $425 to food bill.
c) R2 =18.41/22.29=0.826
Test H0= B1=B2=0 versus H1: Not all bi’s=0
Here,H0 is rejected as F is 52.14.Yes some of the value are greater than zero
d) The values will not be deleted s p value is less than 0.05
e) No,it apper normally
f)
there is no homosedacticity issue as variance is same across the data
Food Income income 0.156 Size 0.876 -0.098Related Questions
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