MODEL 2 - include the variable household size to explain credit card amount a. (

Question

MODEL 2 - include the variable household size to explain credit card amount a. (2pt)Comment on the goodness of fit for Model 2. Model 2- Model Summary Adjusted R Std. Error of Model R RSquare Square the Estimate 1909 826818398.091 a. Prodictors: (Constant), Income; HouseholdSize b. (2pt) Report the statistical significance of the model. Dpendant Varible: CredacCardamount c. (Ipt) Write down the estimated regression equation for Model 2. Model 2- Coefficients Unstandardized Standardized Coefficients Coefficients Mode Std. EorBeta 1(Constant 304.905 197.655 HouseholéSize 356.296 33.201 33.133 3.968 6.602 134 664 10.732 024 516 8.3501 ose Income a. Dependent Variable: Credi Cardamount

Explanation / Answer

a)

Here, we can see that r^2 is 0.826 which means 82.6% of the variation in dependent variable is explained for by the independent variable.

b)

Model does not seem to be statistically significant because the significance level is greater than a=0.05

c)

Credit Card Amount=1304.905+356.296(HouseHold Size)+33.133(Income)

d)

Even excluding the other factors credit card amount that would be sanctioned would be 1304.905

e)

CC amount would go up by 356.296 when there is an increase of 1 in household size. CC amount would go up by 33.133 when there is an increase of 1 in income.

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.