Use Excel to develop a regression model for the Consumer Food Database (using the "Excel Databases.xls" file on Blackboard) to predict Annual Food Spending by Annual Household Income. Suppose a households annual income is $60,000. Predict how much they spend on food per year. Write your answer as a number (do not include the $ sign or comma) and round to 1 decimal place.

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.