Analyze the regression below (n = 50 U.S. states) using the concepts you have learned about multiple regression. Circle things of interest and write comments in the margin. Make a prediction for Poverty for a state with Dropout = 15, TeenMom = 12, Unem = 4, and Age65% = 12 (show your work). The variables are Poverty = percentage below the poverty level; Dropout = percentage of adult population that did not finish high school; TeenMom = percentage of total births by teenage mothers; Unem = unemployment rate, civilian labor force; and Age65% = percentage of population aged 65 and over.
Definitions:
Cash Equivalent
Short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value.
Insurance Proceeds
The money received by an insured party from an insurance company to cover a claim.
Accounts Payable
Liabilities owed by a business to its creditors for goods and services purchased on credit, which are due within a short period.
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