Essay
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.
Correct Answer:
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a.
= 0.0136 + 0.7992X1 + 0.228X2 - 0.5796X...View Answer
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Correct Answer:
Verified
= 0.0136 + 0.7992X1 + 0.228X2 - 0.5796X...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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