Use Excel to develop a regression model to predict Annual Food Spending by Annual Household Income for those living in the Metro area only. Suppose a household in the metro area has an annual income of $60,000. Predict how much they spend on food per year. Write your answer as a number and round to 2 decimal places. Annual Food Spending ($) Annual Household Income ($) Non mortgage household debt ($) Region: 1 = NE 2 = MW 3 = S 4 = W Location: 1 = Metro 2 = Outside Metro 8909 56697 23180 1
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Use Excel to develop a regression model to predict Annual Food Spending by Annual Household Income for those living in the Metro area only.
Suppose a household in the metro area has an annual income of $60,000. Predict how much they spend on food per year. Write your answer as a number and round to 2 decimal places.
Annual Food Spending ($) | Annual Household Income ($) | Non mortgage household debt ($) | Region: 1 = NE 2 = MW 3 = S 4 = W | Location: 1 = Metro 2 = Outside Metro |
8909 | 56697 | 23180 | 1 | 1 |
5684 | 35945 | 7052 | 1 | 1 |
10706 | 52687 | 16149 | 1 | 1 |
14112 | 74041 | 21839 | 1 | 1 |
13855 | 63182 | 18866 | 1 | 1 |
15619 | 79064 | 21899 | 1 | 1 |
2694 | 25981 | 8774 | 1 | 1 |
9127 | 57424 | 15766 | 1 | 1 |
13514 | 72045 | 27685 | 1 | 1 |
6314 | 38046 | 8545 | 1 | 1 |
7622 | 52408 | 28057 | 1 | 1 |
4322 | 41405 | 6998 | 1 | 1 |
3805 | 29684 | 4806 | 1 | 1 |
6674 | 49246 | 13592 | 1 | 1 |
7347 | 41491 | 4088 | 1 | 1 |
2911 | 26703 | 15876 | 1 | 1 |
8026 | 48753 | 16714 | 1 | 1 |
8567 | 55555 | 16783 | 1 | 1 |
10345 | 71483 | 21407 | 1 | 1 |
8694 | 50980 | 19114 | 1 | 1 |
8821 | 46403 | 7817 | 1 | 1 |
8678 | 51927 | 14415 | 1 | 1 |
14331 | 84769 | 17295 | 1 | 1 |
9619 | 59062 | 16687 | 1 | 1 |
9286 | 57952 | 14161 | 1 | 1 |
8206 | 58355 | 19538 | 1 | 1 |
16408 | 81694 | 15187 | 1 | 1 |
12757 | 69522 | 14651 | 1 | 1 |
17740 | 96132 | 0 | 1 | 1 |
7739 | 57796 | 22057 | 1 | 1 |
15383 | 88276 | 1896 | 1 | 1 |
4579 | 32264 | 7979 | 1 | 1 |
11679 | 65928 | 0 | 1 | 1 |
12877 | 69924 | 27330 | 1 | 1 |
16232 | 91108 | 9876 | 1 | 1 |
9621 | 54070 | 19908 | 1 | 1 |
8171 | 47238 | 17819 | 1 | 1 |
12128 | 77427 | 31340 | 1 | 1 |
8642 | 59805 | 4963 | 1 | 1 |
12400 | 60334 | 6632 | 1 | 1 |
9185 | 54114 | 18593 | 1 | 2 |
7862 | 40680 | 15202 | 1 | 2 |
9775 | 58263 | 1486 | 1 | 2 |
6771 | 52008 | 21713 | 1 | 2 |
3059 | 39643 | 12179 | 1 | 2 |
13211 | 70309 | 13221 | 1 | 2 |
7408 | 46450 | 5602 | 1 | 2 |
11581 | 76140 | 33874 | 1 | 2 |
14233 | 80833 | 11478 | 1 | 2 |
3352 | 31899 | 2762 | 1 | 2 |
2630 | 21647 | 2663 | 1 | 2 |
9093 | 65924 | 11355 | 1 | 2 |
12652 | 65923 | 5132 | 1 | 2 |
9559 | 62811 | 12613 | 1 | 2 |
6112 | 42335 | 3149 | 1 | 2 |
10431 | 65134 | 15196 | 1 | 2 |
12630 | 64621 | 21433 | 1 | 2 |
4578 | 36553 | 5502 | 1 | 2 |
9551 | 62910 | 11376 | 1 | 2 |
10262 | 70727 | 13287 | 1 | 2 |
9551 | 57634 | 11857 | 2 | 1 |
10143 | 56549 | 16136 | 2 | 1 |
8955 | 59662 | 11627 | 2 | 1 |
10197 | 57350 | 18432 | 2 | 1 |
11234 | 56447 | 10871 | 2 | 1 |
9320 | 61136 | 0 | 2 | 1 |
9089 | 51526 | 4902 | 2 | 1 |
12300 | 79979 | 17270 | 2 | 1 |
11484 | 66733 | 15145 | 2 | 1 |
11215 | 75359 | 15611 | 2 | 1 |
7204 | 40795 | 8975 | 2 | 1 |
5579 | 39128 | 6576 | 2 | 1 |
11723 | 75482 | 12508 | 2 | 1 |
9353 | 63998 | 0 | 2 | 1 |
7761 | 45845 | 6671 | 2 | 1 |
4261 | 38223 | 8576 | 2 | 1 |
9830 | 66787 | 1178 | 2 | 1 |
12386 | 77852 | 936 | 2 | 1 |
8673 | 55825 | 14167 | 2 | 1 |
10944 | 57022 | 9018 | 2 | 1 |
9910 | 64263 | 12768 | 2 | 1 |
9928 | 75881 | 17423 | 2 | 1 |
4264 | 34343 | 21323 | 2 | 1 |
7971 | 41243 | 21009 | 2 | 1 |
8290 | 53021 | 20151 | 2 | 1 |
12669 | 66991 | 9250 | 2 | 1 |
7272 | 49719 | 20838 | 2 | 1 |
9784 | 58399 | 16065 | 2 | 1 |
9187 | 50477 | 9407 | 2 | 1 |
5866 | 39112 | 20409 | 2 | 1 |
9456 | 51886 | 11668 | 2 | 2 |
6270 | 34797 | 146 | 2 | 2 |
9518 | 62348 | 5201 | 2 | 2 |
10968 | 78704 | 17002 | 2 | 2 |
8865 | 53620 | 32004 | 2 | 2 |
9226 | 51577 | 15922 | 2 | 2 |
4913 | 34761 | 17704 | 2 | 2 |
6976 | 60968 | 17799 | 2 | 2 |
8152 | 51281 | 8167 | 2 | 2 |
2887 | 25013 | 18763 | 2 | 2 |
8062 | 59238 | 10815 | 2 | 2 |
8895 | 47344 | 11814 | 2 | 2 |
8444 | 52645 | 22469 | 2 | 2 |
6148 | 35309 | 17139 | 2 | 2 |
4563 | 34355 | 10612 | 2 | 2 |
8185 | 50630 | 21187 | 3 | 1 |
3391 | 29056 | 15735 | 3 | 1 |
7436 | 48721 | 18363 | 3 | 1 |
9522 | 50459 | 16478 | 3 | 1 |
11290 | 72805 | 21238 | 3 | 1 |
10403 | 56954 | 22218 | 3 | 1 |
4693 | 39343 | 24696 | 3 | 1 |
5626 | 38833 | 14371 | 3 | 1 |
11869 | 55021 | 35576 | 3 | 1 |
13055 | 77605 | 817 | 3 | 1 |
8783 | 57937 | 18591 | 3 | 1 |
13031 | 63343 | 25531 | 3 | 1 |
3681 | 36479 | 17950 | 3 | 1 |
5549 | 40381 | 14257 | 3 | 1 |
4108 | 26309 | 26581 | 3 | 1 |
6314 | 41421 | 22470 | 3 | 1 |
7700 | 54579 | 29065 | 3 | 1 |
7479 | 40551 | 31757 | 3 | 1 |
9093 | 50369 | 6404 | 3 | 1 |
9863 | 54422 | 24334 | 3 | 1 |
8043 | 51836 | 26213 | 3 | 2 |
9552 | 73600 | 36374 | 3 | 2 |
9286 | 51873 | 29631 | 3 | 2 |
7987 | 48003 | 17261 | 3 | 2 |
3875 | 36519 | 13579 | 3 | 2 |
10746 | 75152 | 10659 | 3 | 2 |
6888 | 44974 | 23711 | 3 | 2 |
5479 | 48923 | 4594 | 3 | 2 |
6949 | 43769 | 21221 | 3 | 2 |
10650 | 75947 | 33357 | 3 | 2 |
5188 | 41423 | 33641 | 3 | 2 |
5311 | 40189 | 17791 | 3 | 2 |
4691 | 36772 | 5829 | 3 | 2 |
8056 | 59690 | 19594 | 3 | 2 |
11304 | 53654 | 23066 | 3 | 2 |
8112 | 59067 | 240 | 3 | 2 |
8696 | 65962 | 0 | 3 | 2 |
5869 | 37254 | 10157 | 3 | 2 |
3776 | 33568 | 14143 | 3 | 2 |
11829 | 56934 | 0 | 3 | 2 |
13087 | 88822 | 17565 | 4 | 1 |
10986 | 59635 | 27863 | 4 | 1 |
5762 | 38407 | 18867 | 4 | 1 |
11617 | 78627 | 11894 | 4 | 1 |
9895 | 47710 | 22930 | 4 | 1 |
16293 | 64443 | 31687 | 4 | 1 |
8185 | 58871 | 35424 | 4 | 1 |
13972 | 87954 | 11549 | 4 | 1 |
11243 | 54778 | 12552 | 4 | 1 |
4635 | 39825 | 19494 | 4 | 1 |
10063 | 49536 | 12195 | 4 | 1 |
8426 | 60102 | 13787 | 4 | 1 |
7436 | 49139 | 22356 | 4 | 1 |
11747 | 51052 | 4553 | 4 | 1 |
15397 | 70500 | 12025 | 4 | 1 |
6842 | 54894 | 16217 | 4 | 1 |
9678 | 60570 | 4106 | 4 | 1 |
12852 | 57625 | 31228 | 4 | 1 |
10114 | 56956 | 25907 | 4 | 1 |
8496 | 61400 | 1093 | 4 | 1 |
6689 | 50532 | 17106 | 4 | 1 |
15696 | 72774 | 17793 | 4 | 1 |
9841 | 69981 | 21607 | 4 | 1 |
12529 | 66891 | 17689 | 4 | 1 |
10210 | 67431 | 19995 | 4 | 1 |
8868 | 64782 | 14489 | 4 | 1 |
6426 | 38987 | 17864 | 4 | 1 |
11096 | 64867 | 5839 | 4 | 1 |
10086 | 50421 | 8689 | 4 | 1 |
2587 | 27076 | 17534 | 4 | 1 |
12492 | 51784 | 20284 | 4 | 2 |
8456 | 54135 | 22037 | 4 | 2 |
6801 | 53291 | 23342 | 4 | 2 |
6339 | 49804 | 34943 | 4 | 2 |
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9717 | 72841 | 22349 | 4 | 2 |
6026 | 46238 | 20165 | 4 | 2 |
5618 | 45938 | 10538 | 4 | 2 |
10217 | 77716 | 18516 | 4 | 2 |
8338 | 59711 | 7980 | 4 | 2 |
9048 | 42106 | 19786 | 4 | 2 |
4017 | 36462 | 9935 | 4 | 2 |
10906 | 53403 | 18177 | 4 | 2 |
15148 | 71290 | 6696 | 4 | 2 |
8830 | 66759 | 20972 | 4 | 2 |
8481 | 57616 | 28767 | 4 | 2 |
11358 | 76221 | 1373 | 4 | 2 |
10553 | 78202 | 5920 | 4 | 2 |
6969 | 55164 | 24795 | 4 | 2 |
13219 | 61171 | 21482 | 4 | 2 |
3543 | 34093 | 25969 | 4 | 2 |
7326 | 50647 | 10750 | 4 | 2 |
8458 | 59898 | 22940 | 4 | 2 |
11766 | 52884 | 25970 | 4 | 2 |
9908 | 73629 | 7112 | 4 | 2 |
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