--answer the following questions for each:
a) Use LINEST or Regression to calculate regression statistics.
b) Find r.
c) What is the y intercept?
d) What is the age (problem 1) or income (problem 2) coefficient?
e) What is the dist (problem 1) or bef adm (problem 2) coefficient?
f) Prob 1--how many visits fora 34 year old living 5 miles away?
g) Prob 2--how many tests for a $36k person with 6 pre-adm tests?
Answer a)
Following is the regression statistics obtained using LINEST function (Here, we have taken visits as y, age as x1 and distance as x2:
Answer b)
From the output we can see that r2 = 0.637019
r = SQRT(0.637019 ) = 0.798135
Answer c)
Y intercept is the value of b shown in the output.
Y intercept = b = 2.702106
Answer d)
As we have taken age as x1 so coefficient of age is m1 = 0.06341
Answer e)
As we have taken distance as x2 so coefficient of distance is m2 = -0.43163
Answer f)
Based on output obtained, regression equation can be written as:
y = m1x1 + m2x2 + b
y = 0.06341x1 + -0.43163x2 + 2.702106
Given x1 = 34 and x2 = 5
y = 0.06341*34 + -0.43163*5 + 2.702106
y = 2.699896 = 3 (Rounded to nearest whole number)
Therefore, number of visits for a 34 year old living 5 miles away is 3
We have answered 5 parts (a to f).
--answer the following questions for each: a) Use LINEST or Regression to calculate regression statistics. b)...
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