a. Write out the null and alternative hypotheses to test for a…
Question Answered step-by-step a. Write out the null and alternative hypotheses to test for a… a. Write out the null and alternative hypotheses to test for a positive linear relationship, using correct notation, between Balance and Monthly Income. b. Should the null hypothesis be rejected? Report the value of the test statistic and show how you reached your decision. (Use α = 0.05). c. State the estimated regression equation. d. Interpret Bˆ1 , the slope of the regression line and, if appropriate, Bˆ0 the intercept, in the context of the question. e. Use the estimated linear regression line to estimate the average monthly credit card Balance of credit card holders with monthly incomes of $4,000. (Show your working) f. Interpret the R-squared value in the context of the question. g. which assumption/s about the residuals of regression is/are being tested and comment on whether or not the/these assumption/s hold. h. Is the multiple linear regression model better than the simple linear regression model at explaining monthly credit card balances? (Comment on R-square value) Data: Image transcription textScatter Plot of Balance byMonthly_Income R2 Linear = 0.227$6,000 O 800 co O O $4… Show more… Show moreImage transcription textRegression Variables Entered/Removed Variables VariablesModel Entered Removed Method 1 Monthly_Inco Enter me Da. Dependent Variable: Balance b. All requested… Show more… Show moreImage transcription textRegression Variables Entered/Removeda Variables Variables ModelEntered Removed Method 1 Savings, Enter Rewards, Gender, Gold,Monthly_Inco me b a. Dependent Variable: Balance b. All r… Show more… Show moreImage transcription textScatterplot Dependent Variable:Balance 6 4 o OO 2 RegressionStandardized Residual o 0 … Show more… Show more Math Statistics and Probability BSNS 112 Share QuestionEmailCopy link Comments (0)
