3. What problem does this regression have? le13 10 08 06 04 02 00 GDP
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- **Based on the regression results, answer the following questions** Data are collected on the income (measured in $1000’s of $’s), house value (measured in $1000’s of $’s), years in a home, age, sex (=1 for male, =0 for female), and the amount outstanding on a mortgage (measured in $1000’s of $’s). The dependent variable is income. Based on the regression results, answer the following questions e) Are any of the explanatory (independent) variables significant at the 10% level of significance? How do you know? f) What is the predicted value of income for a person that has been in a house for 5 years, is 38 years old, is a male, has a house valued at $250,000, and has $100,000 left on their mortgage? (g) What is the effect on the income of a person being a male versus a female?You estimate a regression equation that estimates individuals’ yearly income as a function of age (measured in years), years of education, and their score on a standardized intelligence exam (IQ test). The estimated coefficients are: I = 26.3 + 4.21*Age + 7.21*Education + .23 * IQ Where I is income measured in thousands of dollars. Based on the regression results, how much more should an individual earn after attending graduate school for two years? Explain your reasoning.What are some ideas for practice problems that use the regression equation?
- 1 Acup of soup is left on a countertop to cool. The cable below gives the temperatures, in degrees Fahrenheit, of the soup recorded over a 10-minute period. Time in Minutes () Temperature in F() 180.2 165.8 146.3 135.4 127.7 110.5 2. 8. 10 Write an exponential regression equation for the data, rounding all values to the nearest thousandth.Listed below are the numbers of cricket chirps in 1 minute and the corresponding temperatures in °F. Find the regression equation, letting chirps in 1 minute be the independent (x) variable. Find the best predicted temperature at a time when a cricket chirps 3000 times in 1 minute, using the regression equation. What is wrong with this predicted temperature? Chirps in 1 min Temperature ("F) 860 O 85.8 69.9 1110 765 864 1188 1171 1232 1167 82.9 67.6 70.4 84.5 89 93.9 The regression equation is y =+ (Ox. (Round the y-intercept to one decimal place as needed. Round the slope to four decimal places as needed.)Suppose the following estimated regression equation was determined to predict salary based on years of experience. Estimated Salary = 29,083.56 +2500.99(Years of Experience) What is the estimated salary for an employee with 12 years of experience? Answer E
- 16 Use the following regression equation to predict the mean income for all households of the middle fifth of Americans in 2025 (year 11- this is the value of x!). Round all answers to the nearest whole dollar and type it in the space below. Do not include commas or the dollar sign in your answer. y = 2,774.86x + 53,745.5 The average income will be approximately $4 Type hereSuppose you wanted to estimate the effect of being educated on being in the labor force. You estimate a model with two variables, LF is a binary variable = 1 if the person is participating in the labor force and the variable educ measures the number of years of education a person has received. You get the following estimated regression: LF = 0.1 + 0.15educ Which of the following is the correct interpretation about the effect of an additional year of education? O A 1% increase in education increases the number of those participating in the labor force by 15 percentage points. A additional year in education increases the number of those participating in the labor force by 0.15 percentage points A additional year in education increases the number of those participating in the labor force by 0.15% An additional year of education increases the probability of participating in the labor force by 15 percentage points. An additional year of education increases the probability of participating…Hi can you help me to answer to these questions?
- 19.The lecturer is interested to see what variables, if any will help determine the number of hours spent on studying statistics. Test and find any regression models that can help determine the number of hours spent on studying. (Hint run Study hrs. on…)(a) On average, how much do males study more(less) than females?(b) Do people who enjoy the Big Bang Theory impact on the number of hours studies?(c) Is age a determining factor on the number of hours studied?(d) Do students with a stronger math background study more or less? Also state how much more or less Answer all questions.. Quiz Results EQR Study Hrs Age Sex BBT MB MC AuHS LM 15 10 3 19 0 0 1 1 0 1 14 15 4 24 0 0 1 0 0 1 9 15 1 20 0 10 1 0 0 1 6 10 3 21 0 0 1 1 0 1 14 15 4 21 0 9 1 0 0 1 12 10 6 21 0 2 0 1 0 1 12 13 2 21 1 8 1 0 0 0 15 15 0 20 0 8 1 0 0 1 12 15 3 20 0 10 1 0 0 1 13 15 0.2 19 0 8 1 0 0 1 15 15 2 20 0 6 1 0 1 1 12 14 5 20 0 5 1 1 1 1 14 15 7 22 0 8 0 0 0 0 7 7 10 21 1 7 0 0 1 0 11 15…How would I complete this problem? I'm not sure how to get it started. Thank you.
