Question

1) Jan Tinbergen is conducting research on monthly expenses for medical care, including over the counter medicine. His dependent variable is monthly expenses for medical care while his independent variables are number of family members and insurance type (government funded, private insurance and other) He has coded insurance type as the following 12-1 if government funded, X'3 -1 if private insurance Below is his Excel output Regression Statistics Multiple R R Square AdjustedR Square Standard Error Observations 0.8590 0.7379 952.3605 18 ANOVA MS Significance F Regression Residual Total 14 17 12697866 906990.4 1.4SE+08 Coet rd Error Stat 1025.911 0.141246 0.889688 1.247247 9.330762 2.19E-07 8.786907 1.55916 0.141272 1.166068 7.810781 1.81E-06 P-value Intercept X1 X2 X3 144.9 9.11 (a) What is the prediction equation? (b) Based on the significance F-test, is thismodelagod prediction equation? - Explaation: SinCance 1E- lod for the F-test is lo

Answer 1

y^ = 144.91 + 11.63 * x1 -13.7 *x2 -9.11* x3

I have checked all answers are correct for all three questions

Please comment if you have doubt in any specific part