Question

A regression model was developed relating amount charge to a credit card of ABC Bank with...

A regression model was developed relating amount charge to a credit card of ABC Bank with two independent variables: Household Size and Income (in thousands) of the customer. Part of the regression results are shown below

1.   What is the value of the F test statistic for testing whether the regression model overall is significant? (2 Points)

2.   What is the rejection rule for testing whether the regression model is significant at the 0.05 level of significance? Use the critical value approach. (2 Points)

3.   Is the regression model significant? Please briefly explain. (2 Points)

4.   What is the value of the t test statistic for testing whether the variable Income is significant?   (2 Points)  

df

SS

MS

Regression

2

30924371.067

15462185.533

Residual

43

5884606.585

136851.316

Total

45

36808977.652


Coefficients

Standard Error

Intercept

1450.463

190.845

Income

30.798

3.945

Household Size

350.980

32.469
Math   Statistics-And-Probability   
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