Please type the answer by keyboard not on paper What x Surrc × Ansi × abdulraman
ID: 3148652 • Letter: P
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Please type the answer by keyboard not on paper
What x Surrc × Ansi × abdulraman Secure https://moodle.adelphi.edu/pluginfile.php/2460125/ /1/DSC507-Final%2012017F.pdf ::: Apps alla, i 0 YouTube .J vouleagal sasss . Baloot R ReadItEnglish com Dj Google i-aas 1http://www.yalla-sho BBC atal Facebook 9gS CNN -Arabian Business 6. Bob White is conducting research on monthly expenses for medical care, including over-the counter medicine. His dependent variable is monthly expenses for medical care while his independent variable is number of family members. Below is his Excel output. SUMMARY OUTPUT Re Statistics 0.695 0483 047 55.27 usted R Square dard Error ANOVA 99929.4 58057.4 15798 MS 99929.4 3055.65 32.70311 0.0001 egression esidual otal Coefficients Standard 110,4 16.8 Stat P-Value Interce 35.5340 0.81902 3.10908 5.71866 0.005 0.0001 a) What is the prediction equation? b) Based on his model, each additional family member increases the predicted costs by how much? c) Based on the significance F-test, is this model a good prediction equation? d) Can the null hypothesis that the slope is zero be rejected? Why or why not? e) What is the value of the correlation coefficient?Explanation / Answer
a) Prediction equation can be given with the help of X coefficient and Intercept.
With the given data, Y=110.47 + 16.83X
b) With the above prediction model, each family member increases the predicted cost by X coefficient because the intercept value is fixed for all.
Therefore, $16.83 will be additional cost.
c) The significance F value is 0.00016. The p- value for the X coefficient is very less. Hence this model is a good prediction equation.
d) Based on the P value, the slope/ Intercept value is 0.0057 which is not equal to zero. hence, it can be rejected.
e) The value of correlation coefficient is given by Multiple R value , 0.695