4. Compare the preceding four simple linear regression models to determine which model is the preferred model....

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Statistics

4. Compare thepreceding four simple linear regression models to determine whichmodel is the preferred model. Use the Significance F values,p-values for independent variable coefficients, R-squared orAdjusted R-squared values (as appropriate), and standard errors toexplain your selection.
5.. Calculate thepredicted income of a 45 year old, with 18 years of education, 2children, and works 40 hours per week using your preferredregression model from part 4.
INCOME
AGE
EARNRS
EDUC
CHILDS
HRS1
500
27
3
12
0
56
Income =
annual income
500
23
3
12
1
10
Age =
years of age ofrespondent
500
78
0
16
2
0
Earnrs =
number of familymembers earning income
500
64
0
17
0
0
Educ =
years of education
500
54
1
14
3
0
Childs = number ofchildren
500
22
2
13
1
0
Hrs1 =
number of hours

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4.2 Ratings (754 Votes)

4IN linear model linear relationship between variables is learning out through equation Associate alternate model is Log linear model during which linear relationships among log transferred variables are being studied Since the link See Answer

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INCOME	AGE	EARNRS	EDUC	CHILDS	HRS1
500	27	3	12	0	56	Income =	annual income
500	23	3	12	1	10	Age =	years of age ofrespondent
500	78	0	16	2	0	Earnrs =	number of familymembers earning income
500	64	0	17	0	0	Educ =	years of education
500	54	1	14	3	0	Childs = number ofchildren
500	22	2	13	1	0	Hrs1 =	number of hours