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 ~er week• The population in the city• The monthly income of riders• Average rate to park your personal vehicleNumber of weeklyriders192,000Population ofcity1,800,0001,790,000Price perweekMonthly income ofridersAverage parking rates permonthCity$15$5,800$50$6,200$50190,400191,200$15$151,780,000$6,400$604$25$6,500$60177,600176,8001,778,0001,750,0001,740,0005$25$6,550$606.178,400$25$6,580$707180,800$251,725,000$8,200$75175,200174,400$30$301,725,000$8,600$8,8008$759.1,720,000$7510173,920$301,705,000$80$9,200$9,630$10,570$11,330$11,600S11,800$11,830$12,650S13.0001,710,0001,700,00011172,800163,200$30$8012$40$8013161,600$401,695,0001,695,0001,690,000$8514161,600160,800$40$10015$40$1051,630,0001,640,0001,635,00016159,200$40$10517$65$105$110148,800115,696147,200150,400152,00018$10219$751,630,000$13,224$1252021$130$150$751,620,0001,615,0001,605,000$13,766$14,010S7522136,000126,240$80$14,468$15523$861,590,000$15,000$15,200S15,600$16,000$16524123,888$981,595,0001,590,0001,600,000$17525$175126,080151,680$8726$77$190a. Determine the multiple regression equation for the data.b. What is the predicted value of the number of weekly riders if: price of bus trips per week = $24; population = $2,000,000; themonthly income of riders = $13,500; and average rate to park your personal vehicle = $150.c. Interpret the coefficient of determination.d. At the 5% significance level, determine if the model is useful for predicting the number of weekly riders on public buses. Inresponding, construct and test any appropriate hypothesis.e. At the 5% significance level, does it appear that price of bus trips per week, population or average rate to park your personal vehiclecan be removed from the model as unnecessary? In responding, construct and test any appropriate hypothesis.

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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 ~er week • The population in the city • The monthly income of riders • Average rate to park your personal vehicle Number of weekly riders 192,000 190,400 191,200 Price per week Monthly income of riders Population of city 1,800,000 1,790,000 1,780,000 Average parking rates per month S50 S50 City $5,800 $6,200 $6,400 $15 $15 $15 $60 $6,500 $6.550 $6,580 $8.200 $8,600 $8.800 $9,200 177,600 176,800 178,400 $25 1,778,000 $60 $25 $60 1,750,000 1,740,000 $25 $70 $25 $30 S30 1,725,000 1,725,000 1,720,000 1,705,000 180,800 $75 175,200 174,400 $75 $75 10 173,920 $30 $80 1,710,000 1,700,000 $9,630 $10,570 $11,330 $11,600 $11,800 $11,830 $12,650 $13,000 11 172,800 163,200 $30 $80 12 $40 $80 13 161,600 161,600 160,800 $40 1,695,000 1,695,000 1,690,000 $85 14 $40 $100 15 $40 $105 16 159.200 $40 1,630,000 $105 S105 1,640,000 1,635,000 17 148,800 115,696 147,200 150,400 152,000 $65 18 s102 S110 $13,224 $13,766 $14,010 $14,468 $75 1,630,000 1,620,000 19 $125 20 S75 S75 $130 21 1,615,000 $150 $80 S86 $98 22 136,000 1,605,000 $155 1,590,000 1,595,000 1,590,000 1,600,000 $15,000 $15,200 S15,600 S16,000 S165 $175 23 126,240 123,888 126,080 151,680 24 25 $87 $175 26 S77 $190 a. Determine the multiple regression equation for the data. b. 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. c. Interpret the coefficient of determination.

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 25PPS