Market is buyers and sellers transacting with one another. A market in breast milk, a precious commodity, is developing and expanding. The internet…
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Michael Hat, 17 ALRB 2 (1991)42pp Reading Material: http://are150.ucdavis.edu/class/cid_330/are150_chapter-4_17-michael-hat-2-1991-successor.pdf 1.
October 2, 2020
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Equation for the linear regression, I am having a hard time figuring out how to make the regression equation. I have ran my regression and answered…

Equation for the linear regression, I am having a hard time figuring out how to make the regression equation. I have ran my regression and answered everything but A and B.

1.     Use the data set (Food Spending Data Set) to answer the following:

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a.     Estimate the linear regression where food spending is the dependent variable and the other four variables are independent variables. Report this equation here as well.

b.     Interpret the coefficient for the annual household income and non-mortgage household debt. Do the coefficients seem realistic (what one would expect)? Why?

c.     Report the F-statistic and comment on what it tells us about this model.

d.     For each of the independent variables state if they are statistically significant or not. (Make sure to explain why).

e.     What is the estimated standard error for our model?

f.      Calculate the 95% confidence interval. (Note, for this you need to first estimate the mean for annual food spending.)

g.     Report and interpret the coefficient of determination (R2).

Data Set:

Annual Food Spending ($) 8909 5684 10706 14112 13855 15619 2694 9127 13514 6314 7622 4322 3805 6674 7347 2911 8026 8567 10345 8694 8821 8678 14331 9619 9286 8206 16408 12757 17740 7739 15383 4579 11679 12877 16232 9621 8171 12128 8642 12400 9185 7862 9775 6771 3059 13211 7408 11581 14233 3352 2630 9093 12652 9559 6112 10431 12630 4578 9551 10262 9551 10143 8955 10197 11234 9320 9089 12300 11484 11215 7204 5579 11723 9353 7761 4261 9830 12386 8673 10944 9910 9928 4264 7971 8290 12669 7272 9784 9187 5866 9456 6270 9518 10968 8865 9226 4913 6976 8152 2887 8062 8895 8444 6148 4563 8185 3391 7436 9522 11290 10403 4693 5626 11869 13055 8783 13031 3681 5549 4108 6314 7700 7479 9093 9863 8043 9552 9286 7987 3875 10746 6888 5479 6949 10650 5188 5311 4691 8056 11304 8112 8696 5869 3776 11829 13087 10986 5762 11617 9895 16293 8185 13972 11243 4635 10063 8426 7436 11747 15397 6842 9678 12852 10114 8496 6689 15696 9841 12529 10210 8868 6426 11096 10086 2587 12492 8456 6801 6339 7802 9717 6026 5618 10217 8338 9048 4017 10906 15148 8830 8481 11358 10553 6969 13219 3543 7326 8458 11766 9908

Annual Household Income          ($) 56697 35945 52687 74041 63182 79064 25981 57424 72045 38046 52408 41405 29684 49246 41491 26703 48753 55555 71483 50980 46403 51927 84769 59062 57952 58355 81694 69522 96132 57796 88276 32264 65928 69924 91108 54070 47238 77427 59805 60334 54114 40680 58263 52008 39643 70309 46450 76140 80833 31899 21647 65924 65923 62811 42335 65134 64621 36553 62910 70727 57634 56549 59662 57350 56447 61136 51526 79979 66733 75359 40795 39128 75482 63998 45845 38223 66787 77852 55825 57022 64263 75881 34343 41243 53021 66991 49719 58399 50477 39112 51886 34797 62348 78704 53620 51577 34761 60968 51281 25013 59238 47344 52645 35309 34355 50630 29056 48721 50459 72805 56954 39343 38833 55021 77605 57937 63343 36479 40381 26309 41421 54579 40551 50369 54422 51836 73600 51873 48003 36519 75152 44974 48923 43769 75947 41423 40189 36772 59690 53654 59067 65962 37254 33568 56934 88822 59635 38407 78627 47710 64443 58871 87954 54778 39825 49536 60102 49139 51052 70500 54894 60570 57625 56956 61400 50532 72774 69981 66891 67431 64782 38987 64867 50421 27076 51784 54135 53291 49804 52205 72841 46238 45938 77716 59711 42106 36462 53403 71290 66759 57616 76221 78202 55164 61171 34093 50647 59898 52884 73629

Non mortgage household debt ($) 23180 7052 16149 21839 18866 21899 8774 15766 27685 8545 28057 6998 4806 13592 4088 15876 16714 16783 21407 19114 7817 14415 17295 16687 14161 19538 15187 14651 0 22057 1896 7979 0 27330 9876 19908 17819 31340 4963 6632 18593 15202 1486 21713 12179 13221 5602 33874 11478 2762 2663 11355 5132 12613 3149 15196 21433 5502 11376 13287 11857 16136 11627 18432 10871 0 4902 17270 15145 15611 8975 6576 12508 0 6671 8576 1178 936 14167 9018 12768 17423 21323 21009 20151 9250 20838 16065 9407 20409 11668 146 5201 17002 32004 15922 17704 17799 8167 18763 10815 11814 22469 17139 10612 21187 15735 18363 16478 21238 22218 24696 14371 35576 817 18591 25531 17950 14257 26581 22470 29065 31757 6404 24334 26213 36374 29631 17261 13579 10659 23711 4594 21221 33357 33641 17791 5829 19594 23066 240 0 10157 14143 0 17565 27863 18867 11894 22930 31687 35424 11549 12552 19494 12195 13787 22356 4553 12025 16217 4106 31228 25907 1093 17106 17793 21607 17689 19995 14489 17864 5839 8689 17534 20284 22037 23342 34943 28579 22349 20165 10538 18516 7980 19786 9935 18177 6696 20972 28767 1373 5920 24795 21482 25969 10750 22940 25970 7112

Region:  1 = NE    2 = MW   3 = S      4 = W 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4

Location:  1 = Metro     2 = Outside Metro 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2

 

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