A student used multiple regression analysis to study how family spending (Y)is influenced by income (X1),family size (X2),and additions to savings (X3).The variables Y,X1,and X3 are measured in thousands of dollars.The following results were obtained.
a.Write out the estimated regression equation for the relationship between the variables.
b.Compute R2.What can you say about the strength of this relationship?
c.Carry out a test of whether Y is significantly related to the independent variables.Use a .05 level of significance.
d.Carry out a test to see if X3 and Y are significantly related.Use a .05 level of significance.
Definitions:
Accrued Interest
The accumulation of interest on a loan or bond since the last payment date but not yet paid out to the lender.
Gain on Sale of Investments
The profit realized from selling investments for more than the purchase price.
Investments-Evans Company Bonds
Specific long-term investments made in the bonds issued by Evans Company.
Treasury Bonds
Long-term government securities issued with a fixed interest rate and maturity of generally more than 10 years.
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