Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 14, Problem 22CE
A regional planner is studying the demographics of nine counties in the eastern region of an Atlantic seaboard state. She has gathered the following data:
- a. Is there a linear relationship between the
median income and median age? - b. Which variable is the “dependent” variable?
- c. Use statistical software to determine the regression equation. Interpret the value of the slope in a simple regression equation.
- d. Include the aspect that the county is “coastal” or not in a multiple linear regression analysis using a “dummy” variable. Does it appear to be a significant influence on incomes?
- e. Test each of the individual coefficients to see if they are significant.
- f. Make a plot of the residuals and comment on whether they appear to follow a
normal distribution . - g. Plot the residuals versus the fitted values. Do they seem to have the same amount of variation?
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---
Chapter 14 Solutions
Statistical Techniques in Business and Economics
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