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A study is done to find out whether there is a relationship between a woman's age and the amount of money she has saved (in RM'000). A random sample of data was collected from fifteen women in a residential area. The woman's age ranges from twenty-five to fifty-nine. Below are the results using MS Excel : Table 2 Regression Statistics Multiple R 0.986 R? R Square Adjusted R Square 0.969 Standard Error 1.098 Observations 15

A study is done to find out whether there is a relationship between a woman's age and the amount of money she has saved (in RM'000). A random sample of data was collected from fifteen women in a residential area. The woman's age ranges from twenty-five to fifty-nine. Below are the results using MS Excel : Table 2 Regression Statistics Multiple R 0.986 R? R Square Adjusted R Square 0.969 Standard Error 1.098 Observations 15

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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QUESTION 3 A study is done to find out whether there is a relationship between a woman's age and the amount of money she has saved (in RM'000). A random sample of data was collected from fifteen women in a residential area. The woman's age ranges from twenty-five to fifty-nine. Below are the results using MS Excel : Table 2 Regression Statistics Multiple R R Square 0.986 R2 Adjusted R Square 0.969 Standard Error 1.098 Observations 15 Table 3 Standard Coefficients Error t Stat P-value Intercept -4.488 1.123 -3.996 0.002 Variable 1 0.580 0.028 0.000 20.999 a. State the independent and dependent variables. b. Interpret the value of the correlation coefficient obtained in Table 2. С. Compute the coefficient of detemination and explain its meaning. Determine the regression equation of amount of money saved on woman's age. е. Comment on the value of the coefficient, b, in the regression equation in (d). f. Predict the amount of money saved for a woman whose age is i. 39 ii. Is the prediction reliable? Explain. 64 d.
Transcribed Image Text:QUESTION 3 A study is done to find out whether there is a relationship between a woman's age and the amount of money she has saved (in RM'000). A random sample of data was collected from fifteen women in a residential area. The woman's age ranges from twenty-five to fifty-nine. Below are the results using MS Excel : Table 2 Regression Statistics Multiple R R Square 0.986 R2 Adjusted R Square 0.969 Standard Error 1.098 Observations 15 Table 3 Standard Coefficients Error t Stat P-value Intercept -4.488 1.123 -3.996 0.002 Variable 1 0.580 0.028 0.000 20.999 a. State the independent and dependent variables. b. Interpret the value of the correlation coefficient obtained in Table 2. С. Compute the coefficient of detemination and explain its meaning. Determine the regression equation of amount of money saved on woman's age. е. Comment on the value of the coefficient, b, in the regression equation in (d). f. Predict the amount of money saved for a woman whose age is i. 39 ii. Is the prediction reliable? Explain. 64 d.
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