Data from the U.S. Federal Reserve board ( Household Debt
Service burder,2002) on consumer debt ( as a percentage of personal
income) and mortgage debt ( also a percentage of personal income)
for selected years are shown in the following table
What is the value of
correlation coefficient (r) for this data set? Based on the value
of r, what can you say about their linear relationship?
If Consumer debt is independent (predictor) variable and household debt is dependent (response) variable. Find the linear regression equation and predict the value of y for x=9?
Find the value of coefficient of determination (r2 ) and interpret based on percentage of variation explained.
Homework Answers
a & c.
b.
value of y for x=9 => Y'=0.4764+1.0524*(9) = 9.948
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Data from the U.S. Federal Reserve board ( Household Debt
Service burder,2002) on consumer debt (...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = 0.0921 X Consumer Household Consumer Household Debt Debt Debt Debt 7.88 6.23 6.25 5.72 7.91 6.15 6.10 5.95 7.64 5.96 6.31 6.08 7.60 5.82 6.96 6.28 7.48...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = 0.77 x Consumer Household Consumer Household Debt Debt Debt Debt 7.89 6.21 6.23 5.74 7.90 6.14 6.08 5.94 7.65 5.95 6.31 6.08 7.60 5.82 6.97 6.29 7.49...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) Consumer Household Consumer Household Debt Debt Debt Debt 7.89 6.22 6.23 5.72 7.92 6.15 6.09 5.94 7.66 5.95 6.33 6.08 7.60 5.82 6.97 6.29 7.48 5.82 7.38 6.07 7.50...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to...
Data from the U.S. Federal Reserve Board on the percentage of
disposable personal income required to meet consumer loan payments
and mortgage payments for selected years are shown in the following
table. What is the value of the correlation coefficient for this
data set? (Give the answer to four decimal places.)
Consumer Household Consumer Household Debt Debt Debt Debt 7.88 6.23 6.24 5.74 7.92 6.14 6.09 5.94 7.65 5.96 6.31 6.10 7.61 5.82 6.96 6.28 7.48 5.82 7.38 6.09 7.48...
The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances....
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The Federal Reserve System publishes data on family income based on its Survey of Consumer Finances. When the head of th...
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The median household income in the U.S. with the unemployment and poverty rates for various years from 1990 to 200...
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We know that two of the determinants for demand are the price of the good and the income of the consumer. Included in the excel handout (take-home excel is data on the three variables, from 1984 thro...
We know that two of the determinants for demand are the price of the good and the income of the consumer. Included in the excel handout (take-home excel is data on the three variables, from 1984 through 2016. Using excel, estimate the following modl Y Chicken Income ( 1000s] 24.897 26.061 1985 1986 1987 1988 O. 763 0.835 0.785 0.854 0.327 27.225 28.906 23.943 1383 57.8 CO. 12E The variables are defined as follows 30.636 1990 1991 1434 1992 1993...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = 0.0921 X Consumer Household Consumer Household Debt Debt Debt Debt 7.88 6.23 6.25 5.72 7.91 6.15 6.10 5.95 7.64 5.96 6.31 6.08 7.60 5.82 6.96 6.28 7.48...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) r = 0.77 x Consumer Household Consumer Household Debt Debt Debt Debt 7.89 6.21 6.23 5.74 7.90 6.14 6.08 5.94 7.65 5.95 6.31 6.08 7.60 5.82 6.97 6.29 7.49...
Data from the U.S. Federal Reserve Board on the percentage of disposable personal income required to meet consumer loan payments and mortgage payments for selected years are shown in the following table. What is the value of the correlation coefficient for this data set? (Give the answer to four decimal places.) Consumer Household Consumer Household Debt Debt Debt Debt 7.89 6.22 6.23 5.72 7.92 6.15 6.09 5.94 7.66 5.95 6.33 6.08 7.60 5.82 6.97 6.29 7.48 5.82 7.38 6.07 7.50...
Data from the U.S. Federal Reserve Board on the percentage of
disposable personal income required to meet consumer loan payments
and mortgage payments for selected years are shown in the following
table. What is the value of the correlation coefficient for this
data set? (Give the answer to four decimal places.)
Consumer Household Consumer Household Debt Debt Debt Debt 7.88 6.23 6.24 5.74 7.92 6.14 6.09 5.94 7.65 5.96 6.31 6.10 7.61 5.82 6.96 6.28 7.48 5.82 7.38 6.09 7.48...
The median household income in the U.S. with the unemployment and poverty rates for various years from 1990 to 2003 are compared in the table. Median Household Unemployment Rate (%) Poverty Rate (%) Year Income ($1000) 1990 39 5.5 12 1992 38 7 14 1994 39 6.2 14 1996 41 5.2 13 1998 44 4.4 11 2000 42 4 10 2002 41 5.7 11 2003 40 6.2 12 (a) Use x unemployment rate and y poverty rate to obtain the...
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We know that two of the determinants for demand are the price of the good and the income of the consumer. Included in the excel handout (take-home excel is data on the three variables, from 1984 through 2016. Using excel, estimate the following modl Y Chicken Income ( 1000s] 24.897 26.061 1985 1986 1987 1988 O. 763 0.835 0.785 0.854 0.327 27.225 28.906 23.943 1383 57.8 CO. 12E The variables are defined as follows 30.636 1990 1991 1434 1992 1993...
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