Reference no: EM132363849
Location Income ($1000) Size Years Credit
Balance ($) Urban 54 3 12 4,016 Rural 30 2 12 3,159 Suburban 32 4 17 5,100 Suburban 50 5 14 4,742 Rural 31 2 4 1,864 Urban 55 2 9 4,070 Rural 37 1 20 2,731 Urban 40 2 7 3,348 Suburban 66 4 10 4,764 Urban 51 3 16 4,110 Urban 25 3 11 4,208 Urban 48 4 16 4,219 Rural 27 1 19 2,477 Rural 33 2 12 2,514 Urban 65 3 12 4,214 Suburban 63 4 13 4,965 Urban 55 6 15 4,412 Urban 21 2 18 2,448 Rural 44 1 7 2,995 Urban 37 5 5 4,171 Suburban 62 6 13 5,678 Urban 21 3 16 3,623 Suburban 55 7 15 5,301 Rural 42 2 19 3,020 Urban 41 7 18 4,828 Suburban 54 6 14 5,573 Rural 30 1 14 2,583 Urban 48 2 8 3,866 Urban 34 5 5 3,586 Suburban 67 4 13 5,037 Rural 50 2 11 3,605 Urban 67 5 1 5,345 Urban 55 6 10 5,370 Urban 52 2 11 3,890 Urban 62 3 2 4,705 Urban 64 2 6 4,157 Suburban 22 3 18 3,899 Urban 29 4 4 3,890 Suburban 39 2 18 2,972 Rural 35 1 11 3,121 Urban 39 4 15 4,183 Suburban 54 3 9 3,730 Suburban 23 6 18 4,127 Rural 27 2 1 2,921 Urban 26 7 17 4,603 Suburban 61 2 14 4,273 Rural 30 2 14 3,067 Rural 22 4 16 3,074 Suburban 46 5 13 4,820 Suburban 66 4 20 5,149 Rural 53 1 7 2845 Urban 44 6 5 3962 Suburban 74 7 12 5394 Urban 25 3 15 3442 Suburban 66 7 14 5036
QUESTIONS:
- Compute the 98% confidence interval for β1 (the population slope). Interpret this interval.
- What can we say about the credit balance for a customer that has a household size of 9? Explain your answer.
- Using Excel run the multiple regression analysis using the variables INCOME, SIZE and YEARS to predict CREDIT BALANCE. State the equation for this multiple regression model