1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal income required to meet consumer load payments and mortgage payments for selected years are found in the data below debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv") debt i) Construct a scatterplot with a simple regression for this data set. ii) Check the error model assumption visually by constructing a residual plot and QQplot of the residuals. Interpret what you see. iii) Estimate the population regression slope by constructing 95% confidence interval. Give a brief interpretation of the esimated slope in the context of the problem. iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance. Given an appropriate conclusion.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Can you help me to answer this using R code?

1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal
income required to meet consumer load payments and mortgage payments for selected years are
found in the data below
debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv")
debt
i) Construct a scatterplot with a simple regression for this data set.
ii) Check the error model assumption visually by constructing a residual plot and QQplot
of the residuals. Interpret what you see.
iii) Estimate the population regression slope by constructing 95% confidence interval.
Give a brief interpretation of the esimated slope in the context of the problem.
iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance.
Given an appropriate conclusion.
Transcribed Image Text:1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal income required to meet consumer load payments and mortgage payments for selected years are found in the data below debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv") debt i) Construct a scatterplot with a simple regression for this data set. ii) Check the error model assumption visually by constructing a residual plot and QQplot of the residuals. Interpret what you see. iii) Estimate the population regression slope by constructing 95% confidence interval. Give a brief interpretation of the esimated slope in the context of the problem. iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance. Given an appropriate conclusion.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman