Pls. help me in my stat about CORRELATION ANALYSIS, SIMPLE REGRESSION ANALYSIS AND PATH ANALYSIS IN R Coefficients:(Intercept)W:X:Y:Z:A:XYEstimate Std. Error t value Pr(|t|)6.757e+03 3.605e+030.0782.1.8741.328e+03 -1.294-1.719e+030.21298.035e-014.934e-02 16.285 8.34e-12 ***Signif. codes: 0 ***** 0.001 '**' 0.01 '*' 0.05 .' 0.1 'Residual standard error: 5627 on 17 degrees of freedomMultiple R-squared: 0.972, Adjusted R-squared: 0.9687F-statistic: 294.9 on 2 and 17 DF, p-value: 6.357e-14 1m.beta(fit.z)X-0.08338779 1.04924122WXYZYCoefficients:Estimate Std. Error t value Pr(|t|)(Intercept) -1833.0488 1878.3151 -0.976 0.34459-1575.6756 1095.0959 -1.4390.17073703.7910 -0.396 0.69753-278.84820.41280.1361 3.032 0.00841 **0.1395 -1.699 0.10999-0.23701m.beta(fit.A)WDependent variable: ASignif. codes: ***** 0.001 ***' 0.01 0.05 *.' 0.1'' 1Residual standard error: 2656 on 15 degrees of freedomMultiple R-squared: 0.8928, Adjusted R-squared:F-statistic: 31.24 on 4 and 15 DF, p-value: 4.088e-07Xd. Illustrate the output path diagram.YZ-0.40652867 -0.05965043 2.37732884 -1.0453854410.8643c. Identify the factors affecting the endogenous variables. Leave blank if variable is exogenous. Pls. help me in my stat about CORRELATION ANALYSIS, SIMPLE REGRESSION ANALYSISAND PATH ANALYSIS IN RKindly solve the problem on Household finances and explain. Thanks.A researcher wants to determine the causal relationship among number of family memberswho are at least high school graduate (W), number of working family members (X), monthlygross income (Y), monthly expenditure (Z), and average monthly bank deposits (A). Arandom sample of 20 families was selected and the data on the variables were collected.Consider the following path diagram:WXZInstructions: Use the variable notations in writing your answers. Conduct all tests at 5% level ofsignificance.a. Identify the exogenous and endogenous variables.Exogenous:Endogenous:b. Set-up the structural equations.Consider the R outputs from the conducted path analysis.WCoefficients:(Intercept)Ez0.91251811m.beta(fit.Y)WDependent variable: YEstimate Std. Error t value Prltl)335.77088.7 0.0470.96320368.82152.0 9.465 2.07e-08 ***Signif. codes: 0 ****' 0.001 ***' 0.01 0.05 . 0.1 ' ' 1Residual standard error: 17450 on 18 degrees of freedomMultiple R-squared: 0.8327, Adjusted R-squared: 0.8234F-statistic: 89.58 on 1 and 18 DF, p-value: 2.068e-08EyADependent variable: ZEA

Question

Pls. help me in my stat about CORRELATION ANALYSIS, SIMPLE REGRESSION ANALYSIS AND PATH ANALYSIS IN R Coefficients:(Intercept)W:X:Y:Z:A:XYEstimate Std. Error t value Pr(>|t|)6.757e+03 3.605e+030.0782.1.8741.328e+03 -1.294-1.719e+030.21298.035e-014.934e-02 16.285 8.34e-12 ***Signif. codes: 0 ***** 0.001 '**' 0.01 '*' 0.05 .' 0.1 'Residual standard error: 5627 on 17 degrees of freedomMultiple R-squared: 0.972, Adjusted R-squared: 0.9687F-statistic: 294.9 on 2 and 17 DF, p-value: 6.357e-14> 1m.beta(fit.z)X-0.08338779 1.04924122WXYZYCoefficients:Estimate Std. Error t value Pr(>|t|)(Intercept) -1833.0488 1878.3151 -0.976 0.34459-1575.6756 1095.0959 -1.4390.17073703.7910 -0.396 0.69753-278.84820.41280.1361 3.032 0.00841 **0.1395 -1.699 0.10999-0.23701m.beta(fit.A)WDependent variable: ASignif. codes: ***** 0.001 ***' 0.01 0.05 *.' 0.1'' 1Residual standard error: 2656 on 15 degrees of freedomMultiple R-squared: 0.8928, Adjusted R-squared:F-statistic: 31.24 on 4 and 15 DF, p-value: 4.088e-07Xd. Illustrate the output path diagram.YZ-0.40652867 -0.05965043 2.37732884 -1.0453854410.8643c. Identify the factors affecting the endogenous variables. Leave blank if variable is exogenous. Pls. help me in my stat about CORRELATION ANALYSIS, SIMPLE REGRESSION ANALYSISAND PATH ANALYSIS IN RKindly solve the problem on Household finances and explain. Thanks.A researcher wants to determine the causal relationship among number of family memberswho are at least high school graduate (W), number of working family members (X), monthlygross income (Y), monthly expenditure (Z), and average monthly bank deposits (A). Arandom sample of 20 families was selected and the data on the variables were collected.Consider the following path diagram:WXZInstructions: Use the variable notations in writing your answers. Conduct all tests at 5% level ofsignificance.a. Identify the exogenous and endogenous variables.Exogenous:Endogenous:b. Set-up the structural equations.Consider the R outputs from the conducted path analysis.WCoefficients:(Intercept)Ez0.91251811m.beta(fit.Y)WDependent variable: YEstimate Std. Error t value Pr>ltl)335.77088.7 0.0470.96320368.82152.0 9.465 2.07e-08 ***Signif. codes: 0 ****' 0.001 ***' 0.01 0.05 . 0.1 ' ' 1Residual standard error: 17450 on 18 degrees of freedomMultiple R-squared: 0.8327, Adjusted R-squared: 0.8234F-statistic: 89.58 on 1 and 18 DF, p-value: 2.068e-08EyADependent variable: ZEA

Accepted Answer

In accordance with the given data, variable W indicates the HS individual, variable X indicates the…