Use data in BUSI1013 Credit Card Balance.xlsx to complete the
following. You will need to use...
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Use data in BUSI1013 Credit Card Balance.xlsx to complete thefollowing. You will need to use a statistical package such asStatTools or the Regression program within Excel’s Data AnalysisAdd-in to generate the estimated regression equation and the ANOVAetc. (12 points) What is the estimated regression equation using Account Balance asthe dependent variable, and Income, Years of Education, as well asSize of Household as the independent variable?
a.Comment on the goodness of fit of the model using thecoefficient of determination.
b.Conduct an F test with the critical value approach to seewhether the overall model is significant. Use ? = 0.01.
c.Perform a t test with p-value approach for the significanceof the Income variable. Use ? = 0.05.
d.Perform a t test with the p-value approach for thesignificance of the Size of Household variable. Use ? = 0.05.
e.Estimate the Account Balance of a customer who has an incomeof $62 thousand, 14 years of education, and a household size of3.
AccountBalance
Income
Years ofEducation
Size ofHousehold
8976
63
12
2
8308
37
14
2
10028
52
16
2
11256
64
15
4
9869
47
17
2
10194
74
15
2
8706
49
12
2
9557
58
14
2
10565
70
16
3
9434
69
11
3
9687
25
18
3
9490
57
15
1
8806
46
14
3
9561
48
16
2
11757
80
15
3
9406
66
14
2
11150
46
15
3
7671
28
12
2
8803
53
13
1
9571
52
15
2
9566
77
12
3
7885
32
14
3
9773
55
11
1
9121
52
15
2
9298
43
14
3
10285
65
15
2
7801
38
12
1
9323
52
14
2
8643
36
16
3
12466
85
15
2
9447
64
14
2
10727
86
15
2
9243
57
15
3
9311
68
12
2
11033
74
14
3
11721
82
16
2
8727
24
15
3
8438
37
15
3
8317
55
12
2
8617
50
14
1
9052
39
16
3
10889
73
15
3
7766
26
14
1
9189
47
15
2
Answer & Explanation
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Following is the output of regression analysis SUMMARY OUTPUT Regression Statistics Multiple R 0878541582 R Square 0771835311 Adjusted R Square 075472296 Standard Error 5526878046 Observations 44 ANOVA df SS MS F Significance F Regression 3 4133290842 1377763614 451039885 66487E13 Residual 40 1221855237
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