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How much does household weekly income affect the household weekly expenditure on food? The following data shows household...

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Statistics

How much does household weekly income affect the household weeklyexpenditure on food?
The following datashows household weekly expenditure on food and the household weeklyincome (all in dollars).
Use the data belowto develop an estimated regression equation that could be used topredict food expenditure for a weekly income.
Use Excel commands for your calculations.
FOODINCOME
yx
91292
148479
107428
146766
2431621
3121661
2431292
2721683
3491808
2231147
2051648
1821351
4141919
2912046
2121577
2981805
3742031
1411618
2051999
3871953
4262114
1361606
2731833
4002166
1922124

18

The estimated regression predicts that the weekly foodexpenditure rises by _______ for each additional dollar of weeklyincome.

a

0.1073

10.7

b

0.1192

11.9

c

0.1324

13.2

d

0.1457

14.6

19

The predicted expenditure on food for a household with $1,000weekly income is,

a

176.8

b

182.1

c

187.5

d

193.2

20

SSE = ______

a

117507.13

b

116343.69

c

115191.77

d

114051.26

21

SSR = _________

a

125228.74

b

120219.59

c

115410.80

d

110794.37

22

The measure of closeness of fit, or measure of dispersion ofobserved expenditure on food around the regression line is,

a

66.28

b

67.63

c

69.01

d

70.42

Answer & Explanation Solved by verified expert
3.6 Ratings (301 Votes)
Q18 The estimated regression predicts that the weekly foodexpenditure rises by 01324 for each    See Answer
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