Annual Food Spending ($)Annual Household Income ($)Non mortgage household debt ($)Region: 1 = NE 2 = MW 3 = S 4 = WLocation: 1 = Metro 2 = Outside Metro89095669723180115684359457052111070652687161491114112740412183911138556318218866111561979064218991126942598187741191275742415766111351472045276851163143804685451176225240828057114322414056998113805296844806116674492461359211734741491408811291126703158761180264875316714118567555551678311103457148321407118694509801911411882146403781711867851927144151114331847691729511961959062166871192865795214161118206583551953811164088169415187111275769522146511117740961320117739577962205711153838827618961145793226479791111679659280111287769924273301116232911089876119621540701990811817147238178191112128774273134011864259805496311124006033466321191855411418593127862406801520212977558263148612677152008217131230593964312179121321170309132211274084645056021211581761403387412142338083311478123352318992762122630216472663129093659241135512126526592351321295596281112613126112423353149121043165134151961212630646212143312457836553550212955162910113761210262707271328712955157634118572110143565491613621895559662116272110197573501843221112345644710871219320611360219089515264902211230079979172702111484667331514521112157535915611217204407958975215579391286576211172375482125082193536399802177614584566712142613822385762198306678711782112386778529362186735582514167211094457022901821991064263127682199287588117423214264343432132321797141243210092182905302120151211266966991925021727249719208382197845839916065219187504779407215866391122040921945651886116682262703479714622951862348520122109687870417002228865536203200422922651577159222249133476117704226976609681779922815251281816722288725013187632280625923810815228895473441181422844452645224692261483530917139224563343551061222818550630211873133912905615735317436487211836331952250459164783111290728052123831104035695422218314693393432469631562638833143713111869550213557631130557760581731878357937185913113031633432553131368136479179503155494038114257314108263092658131631441421224703177005457929065317479405513175731909350369640431986354422243343180435183626213329552736003637432928651873296313279874800317261323875365191357932107467515210659326888449742371132547948923459432694943769212213210650759473335732518841423336413253114018917791324691367725829328056596901959432113045365423066328112590672403286966596203258693725410157323776335681414332118295693403213087888221756541109865963527863415762384071886741116177862711894419895477102293041162936444331687418185588713542441139728795411549411124354778125524146353982519494411006349536121954184266010213787417436491392235641117475105245534115397705001202541684254894162174196786057041064112852576253122841101145695625907418496614001093416689505321710641156967277417793419841699812160741125296689117689411021067431199954188686478214489416426389871786441110966486758394110086504218689412587270761753441124925178420284428456541352203742680153291233424263394980434943427802522052857942971772841223494260264623820165425618459381053842102177771618516428338597117980429048421061978642401736462993542109065340318177421514871290669642883066759209724284815761628767421135876221137342105537820259204269695516424795421321961171214824235433409325969427326506471075042845859898229404211766528842597042990873629711242 QUESTION 2Use Excel to develop a regression model for the Consumer Food Database (using the "Excel Databases.xls" file on Blackboard) to predict Annual Food Spendingby Annual Household Income.What is the value of the slope? Write your answer as a number and round to 3 decimal places.

Name: Annual Food Spending ($)Annual Household Income ($)Non mortg
Uploaded: 2024-03-20T06:46:55.000Z
Channel: Bartleby
Description: Annual Food Spending ($)Annual Household Income ($)Non mortgage household debt ($)Region: 1 = NE 2 = MW 3 = S 4 = WLocation: 1 = Metro 2 = Outside Metro890956697231801156843594570521110706526871614911141127404121839111

Question

Annual Food Spending ($)Annual Household Income           ($)Non mortgage household debt ($)Region:   1 = NE     2 = MW    3 = S       4 = WLocation:   1 = Metro      2 = Outside Metro89095669723180115684359457052111070652687161491114112740412183911138556318218866111561979064218991126942598187741191275742415766111351472045276851163143804685451176225240828057114322414056998113805296844806116674492461359211734741491408811291126703158761180264875316714118567555551678311103457148321407118694509801911411882146403781711867851927144151114331847691729511961959062166871192865795214161118206583551953811164088169415187111275769522146511117740961320117739577962205711153838827618961145793226479791111679659280111287769924273301116232911089876119621540701990811817147238178191112128774273134011864259805496311124006033466321191855411418593127862406801520212977558263148612677152008217131230593964312179121321170309132211274084645056021211581761403387412142338083311478123352318992762122630216472663129093659241135512126526592351321295596281112613126112423353149121043165134151961212630646212143312457836553550212955162910113761210262707271328712955157634118572110143565491613621895559662116272110197573501843221112345644710871219320611360219089515264902211230079979172702111484667331514521112157535915611217204407958975215579391286576211172375482125082193536399802177614584566712142613822385762198306678711782112386778529362186735582514167211094457022901821991064263127682199287588117423214264343432132321797141243210092182905302120151211266966991925021727249719208382197845839916065219187504779407215866391122040921945651886116682262703479714622951862348520122109687870417002228865536203200422922651577159222249133476117704226976609681779922815251281816722288725013187632280625923810815228895473441181422844452645224692261483530917139224563343551061222818550630211873133912905615735317436487211836331952250459164783111290728052123831104035695422218314693393432469631562638833143713111869550213557631130557760581731878357937185913113031633432553131368136479179503155494038114257314108263092658131631441421224703177005457929065317479405513175731909350369640431986354422243343180435183626213329552736003637432928651873296313279874800317261323875365191357932107467515210659326888449742371132547948923459432694943769212213210650759473335732518841423336413253114018917791324691367725829328056596901959432113045365423066328112590672403286966596203258693725410157323776335681414332118295693403213087888221756541109865963527863415762384071886741116177862711894419895477102293041162936444331687418185588713542441139728795411549411124354778125524146353982519494411006349536121954184266010213787417436491392235641117475105245534115397705001202541684254894162174196786057041064112852576253122841101145695625907418496614001093416689505321710641156967277417793419841699812160741125296689117689411021067431199954188686478214489416426389871786441110966486758394110086504218689412587270761753441124925178420284428456541352203742680153291233424263394980434943427802522052857942971772841223494260264623820165425618459381053842102177771618516428338597117980429048421061978642401736462993542109065340318177421514871290669642883066759209724284815761628767421135876221137342105537820259204269695516424795421321961171214824235433409325969427326506471075042845859898229404211766528842597042990873629711242 QUESTION 2Use Excel to develop a regression model for the Consumer Food Database (using the &#34;Excel Databases.xls&#34; file on Blackboard) to predict Annual Food Spendingby Annual Household Income.What is the value of the slope? Write your answer as a number and round to 3 decimal places.

Accepted Answer

2.
Step-by-step procedure to find the slope using Excel:

In Excel sheet, enter Annual food spending…

Annual Food Spending ($)	Annual Household Income ($)	Non mortgage household debt ($)	Region: 1 = NE 2 = MW 3 = S 4 = W	Location: 1 = Metro 2 = Outside Metro
8909	56697	23180	1	1
5684	35945	7052	1	1
10706	52687	16149	1	1
14112	74041	21839	1	1
13855	63182	18866	1	1
15619	79064	21899	1	1
2694	25981	8774	1	1
9127	57424	15766	1	1
13514	72045	27685	1	1
6314	38046	8545	1	1
7622	52408	28057	1	1
4322	41405	6998	1	1
3805	29684	4806	1	1
6674	49246	13592	1	1
7347	41491	4088	1	1
2911	26703	15876	1	1
8026	48753	16714	1	1
8567	55555	16783	1	1
10345	71483	21407	1	1
8694	50980	19114	1	1
8821	46403	7817	1	1
8678	51927	14415	1	1
14331	84769	17295	1	1
9619	59062	16687	1	1
9286	57952	14161	1	1
8206	58355	19538	1	1
16408	81694	15187	1	1
12757	69522	14651	1	1
17740	96132	0	1	1
7739	57796	22057	1	1
15383	88276	1896	1	1
4579	32264	7979	1	1
11679	65928	0	1	1
12877	69924	27330	1	1
16232	91108	9876	1	1
9621	54070	19908	1	1
8171	47238	17819	1	1
12128	77427	31340	1	1
8642	59805	4963	1	1
12400	60334	6632	1	1
9185	54114	18593	1	2
7862	40680	15202	1	2
9775	58263	1486	1	2
6771	52008	21713	1	2
3059	39643	12179	1	2
13211	70309	13221	1	2
7408	46450	5602	1	2
11581	76140	33874	1	2
14233	80833	11478	1	2
3352	31899	2762	1	2
2630	21647	2663	1	2
9093	65924	11355	1	2
12652	65923	5132	1	2
9559	62811	12613	1	2
6112	42335	3149	1	2
10431	65134	15196	1	2
12630	64621	21433	1	2
4578	36553	5502	1	2
9551	62910	11376	1	2
10262	70727	13287	1	2
9551	57634	11857	2	1
10143	56549	16136	2	1
8955	59662	11627	2	1
10197	57350	18432	2	1
11234	56447	10871	2	1
9320	61136	0	2	1
9089	51526	4902	2	1
12300	79979	17270	2	1
11484	66733	15145	2	1
11215	75359	15611	2	1
7204	40795	8975	2	1
5579	39128	6576	2	1
11723	75482	12508	2	1
9353	63998	0	2	1
7761	45845	6671	2	1
4261	38223	8576	2	1
9830	66787	1178	2	1
12386	77852	936	2	1
8673	55825	14167	2	1
10944	57022	9018	2	1
9910	64263	12768	2	1
9928	75881	17423	2	1
4264	34343	21323	2	1
7971	41243	21009	2	1
8290	53021	20151	2	1
12669	66991	9250	2	1
7272	49719	20838	2	1
9784	58399	16065	2	1
9187	50477	9407	2	1
5866	39112	20409	2	1
9456	51886	11668	2	2
6270	34797	146	2	2
9518	62348	5201	2	2
10968	78704	17002	2	2
8865	53620	32004	2	2
9226	51577	15922	2	2
4913	34761	17704	2	2
6976	60968	17799	2	2
8152	51281	8167	2	2
2887	25013	18763	2	2
8062	59238	10815	2	2
8895	47344	11814	2	2
8444	52645	22469	2	2
6148	35309	17139	2	2
4563	34355	10612	2	2
8185	50630	21187	3	1
3391	29056	15735	3	1
7436	48721	18363	3	1
9522	50459	16478	3	1
11290	72805	21238	3	1
10403	56954	22218	3	1
4693	39343	24696	3	1
5626	38833	14371	3	1
11869	55021	35576	3	1
13055	77605	817	3	1
8783	57937	18591	3	1
13031	63343	25531	3	1
3681	36479	17950	3	1
5549	40381	14257	3	1
4108	26309	26581	3	1
6314	41421	22470	3	1
7700	54579	29065	3	1
7479	40551	31757	3	1
9093	50369	6404	3	1
9863	54422	24334	3	1
8043	51836	26213	3	2
9552	73600	36374	3	2
9286	51873	29631	3	2
7987	48003	17261	3	2
3875	36519	13579	3	2
10746	75152	10659	3	2
6888	44974	23711	3	2
5479	48923	4594	3	2
6949	43769	21221	3	2
10650	75947	33357	3	2
5188	41423	33641	3	2
5311	40189	17791	3	2
4691	36772	5829	3	2
8056	59690	19594	3	2
11304	53654	23066	3	2
8112	59067	240	3	2
8696	65962	0	3	2
5869	37254	10157	3	2
3776	33568	14143	3	2
11829	56934	0	3	2
13087	88822	17565	4	1
10986	59635	27863	4	1
5762	38407	18867	4	1
11617	78627	11894	4	1
9895	47710	22930	4	1
16293	64443	31687	4	1
8185	58871	35424	4	1
13972	87954	11549	4	1
11243	54778	12552	4	1
4635	39825	19494	4	1
10063	49536	12195	4	1
8426	60102	13787	4	1
7436	49139	22356	4	1
11747	51052	4553	4	1
15397	70500	12025	4	1
6842	54894	16217	4	1
9678	60570	4106	4	1
12852	57625	31228	4	1
10114	56956	25907	4	1
8496	61400	1093	4	1
6689	50532	17106	4	1
15696	72774	17793	4	1
9841	69981	21607	4	1
12529	66891	17689	4	1
10210	67431	19995	4	1
8868	64782	14489	4	1
6426	38987	17864	4	1
11096	64867	5839	4	1
10086	50421	8689	4	1
2587	27076	17534	4	1
12492	51784	20284	4	2
8456	54135	22037	4	2
6801	53291	23342	4	2
6339	49804	34943	4	2
7802	52205	28579	4	2
9717	72841	22349	4	2
6026	46238	20165	4	2
5618	45938	10538	4	2
10217	77716	18516	4	2
8338	59711	7980	4	2
9048	42106	19786	4	2
4017	36462	9935	4	2
10906	53403	18177	4	2
15148	71290	6696	4	2
8830	66759	20972	4	2
8481	57616	28767	4	2
11358	76221	1373	4	2
10553	78202	5920	4	2
6969	55164	24795	4	2
13219	61171	21482	4	2
3543	34093	25969	4	2
7326	50647	10750	4	2
8458	59898	22940	4	2
11766	52884	25970	4	2
9908	73629	7112	4	2

QUESTION 2 Use Excel to develop a regression model for the Consumer Food Database (using the "Excel Databases.xls" file on Blackboard) to predict Annual Food Spending by Annual Household Income. What is the value of the slope? Write your answer as a number and round to 3 decimal places.