Suppose a bank would like to develop a regression model to predict a person\'s c

Question

Suppose a bank would like to develop a regression model to predict a person's credit score based on his or her age, weekly income, highest education level (high school, bachelor degree, graduate degree), and whether or not he or she owns or rents his or her primary residence. The accompanying table provides these data for a random sample of customers. Complete parts a through d below Click the icon to view the data table a. Using technology, construct a regression model using all of the independent variables. (Let variable Ed1 be one of the dummy variables for the education level. Assign a 1 to a bachelor degree for this variable. Let Ed2 be another dummy variable for the education level. Assign a 1 to a graduate degree for this variable. Also, let variable Res be the dummy variable for the Residence variable. Assign a 1 if the person owns his or her primary residence.) Complete the regression equation for the model below, where y= Credit Score, X,-Income, x2-Age. x3-Edi x4 Ed2 and x5-Res 470 52 (0031947 883242 42 ind to hwn derimal nl

Explanation / Answer

As per the regression output, the correct interpretation will be:

b) Option A; 47.85; 83.32; 42.42   

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