The St. Lucian Government is interested in predicting the number of weekly riders on the public buses using the following variables: Price of bus trips per week The population in the city The monthly income of riders Average rate to park your personal vehicle
The St. Lucian Government is interested in predicting the number of weekly riders on the public buses using the following variables:
- Price of bus trips per week
- The population in the city
- The monthly income of riders
- Average rate to park your personal vehicle
|
City |
Number of weekly riders |
Price per week |
Population of city |
Monthly income of riders |
Average parking rates per month |
|
1 |
192,000 |
$15 |
1,800,000 |
$5,800 |
$50 |
|
2 |
190,400 |
$15 |
1,790,000 |
$6,200 |
$50 |
|
3 |
191,200 |
$15 |
1,780,000 |
$6,400 |
$60 |
|
4 |
177,600 |
$25 |
1,778,000 |
$6,500 |
$60 |
|
5 |
176,800 |
$25 |
1,750,000 |
$6,550 |
$60 |
|
6 |
178,400 |
$25 |
1,740,000 |
$6,580 |
$70 |
|
7 |
180,800 |
$25 |
1,725,000 |
$8,200 |
$75 |
|
8 |
175,200 |
$30 |
1,725,000 |
$8,600 |
$75 |
|
9 |
174,400 |
$30 |
1,720,000 |
$8,800 |
$75 |
|
10 |
173,920 |
$30 |
1,705,000 |
$9,200 |
$80 |
|
11 |
172,800 |
$30 |
1,710,000 |
$9,630 |
$80 |
|
12 |
163,200 |
$40 |
1,700,000 |
$10,570 |
$80 |
|
13 |
161,600 |
$40 |
1,695,000 |
$11,330 |
$85 |
|
14 |
161,600 |
$40 |
1,695,000 |
$11,600 |
$100 |
|
15 |
160,800 |
$40 |
1,690,000 |
$11,800 |
$105 |
|
16 |
159,200 |
$40 |
1,630,000 |
$11,830 |
$105 |
|
17 |
148,800 |
$65 |
1,640,000 |
$12,650 |
$105 |
|
18 |
115,696 |
$102 |
1,635,000 |
$13,000 |
$110 |
|
19 |
147,200 |
$75 |
1,630,000 |
$13,224 |
$125 |
|
20 |
150,400 |
$75 |
1,620,000 |
$13,766 |
$130 |
|
21 |
152,000 |
$75 |
1,615,000 |
$14,010 |
$150 |
|
22 |
136,000 |
$80 |
1,605,000 |
$14,468 |
$155 |
|
23 |
126,240 |
$86 |
1,590,000 |
$15,000 |
$165 |
|
24 |
123,888 |
$98 |
1,595,000 |
$15,200 |
$175 |
|
25 |
126,080 |
$87 |
1,590,000 |
$15,600 |
$175 |
|
26 |
151,680 |
$77 |
1,600,000 |
$16,000 |
$190 |
- Determine the multiple regression equation for the data
- What is the predicted value of the number of weekly riders if: price of bus trips per week = $24; population = $2,000,000; the monthly income of riders = $13,500; and average rate to park your personal vehicle = $150.
- Interpret the coefficient of determination
- At the 5% significance level, determine if the model is useful for predicting the number of weekly riders on public In responding, construct and test any appropriate hypothesis.
- At the 5% significance level, does it appear that price of bus trips per week, population or average rate to park your personal vehicle can be removed from the model as unnecessary? In responding, construct and test any appropriate hypothesis.
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. At the 5% significance level, determine if the model is useful for predicting the number of weekly riders on public buses. In responding, construct and test any appropriate hypothesis
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