I don\'t understand how to select only certain types of data using the regressio

Question

I don't understand how to select only certain types of data using the regression tool for the following question. Excel tells me that the input range must be a contiguous reference. Please help. The question and data is below.

Using the excel file weddings, apply the excel regression tool using the cost as the dependent variable and the couple's income as the independent variable, only those weddings paid for by the bride and groom. A. Interpret all key regression results, hypothesis tests, and confidence intervals in the output. B. Analyze the residuals to determine if the assumptions underlying the regression analysis are valid. C. Use the standard residuals to determine if any possible outliers exist. D. If a couple makes $70,000 together, how much would they probably budget for the wedding?

Couple's Income Bride's age Payor Wedding cost Attendance Value Rating $130,000 22 Bride's Parents $60,700.00 300 3 $157,000 23 Bride's Parents $52,000.00 350 1 $98,000 27 Bride & Groom $47,000.00 150 3 $72,000 29 Bride & Groom $42,000.00 200 5 $86,000 25 Bride's Parents $34,000.00 250 3 $90,000 28 Bride & Groom $30,500.00 150 3 $43,000 19 Bride & Groom $30,000.00 250 3 $100,000 30 Bride & Groom $30,000.00 300 3 $65,000 24 Bride's Parents $28,000.00 250 3 $78,000 35 Bride & Groom $26,000.00 200 5 $73,000 25 Bride's Parents $25,000.00 150 5 $75,000 27 Bride & Groom $24,000.00 200 5 $64,000 25 Bride's Parents $24,000.00 200 1 $67,000 27 Groom's Parents $22,000.00 200 5 $75,000 25 Bride's Parents $20,000.00 200 5 $67,000 30 Bride's Parents $20,000.00 200 5 $62,000 21 Groom's Parents $20,000.00 100 1 $75,000 19 Bride's Parents $19,000.00 150 3 $52,000 23 Bride's Parents $19,000.00 200 1 $64,000 22 Bride's Parents $18,000.00 150 1 $55,000 28 Bride's Parents $16,000.00 100 5 $53,000 31 Bride & Groom $14,000.00 100 1 $62,000 24 Bride's Parents $13,000.00 150 1 $40,000 26 Bride's Parents $7,000.00 50 3 $45,000 32 Bride & Groom $5,000.00 50 5

Explanation / Answer

Ans:

A)

The estimated p-value of intercept is 0.28. It is insignificant at 0.05 level of significant. The estimated p-value of couple's income is 0.00 and also significant at 0.05 level of significane. Hence, the couple's income is effected on the cost of wedding and explained as the expected increment of cost of wedding is $ 0.42 due to one unit increament to their income.

Hypothesis

Null hypothesis: the slope of income is equal to zero.

Alternative : The slope of income does not equal to zero.

It can test by using single t-test.

Confidence interval: The 95% CI for slope of income is (0.30, 0.54). It means the the CI captured the estimated slope value.

B) .The plot of the standardised residual shows the non-random pattern with furnel shape indicate the violation of assumptions. So, the model is not appropriate for the given data.

C) The box plot of standardised resiaduals shows the two data point outliers. So, the comparision of results between the data that is with or without outleir data point is required and conclude the results.

D) If the couple makes $70,000 together, the possible wedding budget is $ 0.42*70,000= $ 29,235.34.

Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept -5024.51 4582.54 -1.10 0.28 -14504.23 4455.20 Income 0.42 0.06 7.13 0.00 0.30 0.54

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

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