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:
Long Run
A period sufficient for all inputs and production processes to be adjusted, including changing the scale of production facilities.
Average Fixed Costs
Average Fixed Costs are the total fixed costs of production divided by the quantity of output produced.
Total Fixed Cost
The sum of all costs that remain constant regardless of the level of production or output in the short run, such as rent or salaries.
TFC
Total Fixed Cost, which refers to the sum of all costs that do not change with the level of output produced by a firm.
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