The St. Lucian Government is interested in predicting the number of weekly riders on the public buses using the following variables:

Price of bus trips per week

The population in the city

The monthly income of riders

Average rate to park your personal vehicle

City

Number of weekly

riders

Price per

week

Population of

city

Monthly income of

riders

Average parking rates per

month

1

192,000

$15

1,800,000

$5,800

$50

2

190,400

$15

1,790,000

$6,200

$50

3

191,200

$15

1,780,000

$6,400

$60

4

177,600

$25

1,778,000

$6,500

$60

5

176,800

$25

1,750,000

$6,550

$60

6

178,400

$25

1,740,000

$6,580

$70

7

180,800

$25

1,725,000

$8,200

$75

8

175,200

$30

1,725,000

$8,600

$75

9

174,400

$30

1,720,000

$8,800

$75

10

173,920

$30

1,705,000

$9,200

$80

11

172,800

$30

1,710,000

$9,630

$80

12

163,200

$40

1,700,000

$10,570

$80

13

161,600

$40

1,695,000

$11,330

$85

14

161,600

$40

1,695,000

$11,600

$100

15

160,800

$40

1,690,000

$11,800

$105

16

159,200

$40

1,630,000

$11,830

$105

17

148,800

$65

1,640,000

$12,650

$105

18

115,696

$102

1,635,000

$13,000

$110

19

147,200

$75

1,630,000

$13,224

$125

20

150,400

$75

1,620,000

$13,766

$130

21

152,000

$75

1,615,000

$14,010

$150

22

136,000

$80

1,605,000

$14,468

$155

23

126,240

$86

1,590,000

$15,000

$165

24

123,888

$98

1,595,000

$15,200

$175

25

126,080

$87

1,590,000

$15,600

$175

26

151,680

$77

1,600,000

$16,000

$190

Determine the multiple regression equation for the data

What is the predicted value of the number of weekly riders if: price of bus trips per week = $24; population = $2,000,000; the monthly income of riders = $13,500; and average rate to park your personal vehicle = $150.

Interpret the coefficient of determination

At the 5% significance level, determine if the model is useful for predicting the number of weekly riders on public In responding, construct and test any appropriate hypothesis.

At the 5% significance level, does it appear that price of bus trips per week, population or average rate to park your personal vehicle can be removed from the model as unnecessary? In responding, construct and test any appropriate hypothesis.

Question

The St. Lucian Government is interested in predicting the number of weekly riders on the public buses using the following variables:

City	Number of weekly riders	Price per week	Population of city	Monthly income of riders	Average parking rates per month
1	192,000	$15	1,800,000	$5,800	$50
2	190,400	$15	1,790,000	$6,200	$50
3	191,200	$15	1,780,000	$6,400	$60
4	177,600	$25	1,778,000	$6,500	$60
5	176,800	$25	1,750,000	$6,550	$60
6	178,400	$25	1,740,000	$6,580	$70
7	180,800	$25	1,725,000	$8,200	$75
8	175,200	$30	1,725,000	$8,600	$75
9	174,400	$30	1,720,000	$8,800	$75
10	173,920	$30	1,705,000	$9,200	$80
11	172,800	$30	1,710,000	$9,630	$80

Determine the multiple regression equation for the data
What is the predicted value of the number of weekly riders if: price of bus trips per week = $24; population = $2,000,000; the monthly income of riders = $13,500; and average rate to park your personal vehicle = $150.
Interpret the coefficient of determination
At the 5% significance level, determine if the model is useful for predicting the number of weekly riders on public In responding, construct and test any appropriate hypothesis.
At the 5% significance level, does it appear that price of bus trips per week, population or average rate to park your personal vehicle can be removed from the model as unnecessary? In responding, construct and test any appropriate hypothesis.

Accepted Answer

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The St. Lucian Government is interested in predicting the number of weekly riders on the public buses using the following variables: Price of bus trips per week The population in the city The monthly income of riders Average rate to park your personal vehicle