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StatisticsQ&A LibraryUsing the data below, can I get some help responding this problem?Using checking account balance as the dependent variable and using as independent variables the number of ATM transactions, the number of other services used, whether the individual has a debit card, and whether interest is paid on the particular account, write a report indicating which of the variables seem related to the account balance and how well they explain the variation in account balances. Should all of the independent variables proposed be used in the analysis or can some be dropped?BalanceATMServicesDebitInterestCity17561340127489210115011010011831104013162214601418861730117406300315931081011169640042125186002155412610314741271011913650011218103101100612400122152031041377200316754004343720012557207104227615410314941120112144173003199510700210538410315268401211208610318387511317461120021616104112195862102634271045804100113204510116756710278984004173512701317841150011326168003205114410410447510118851061121790114013765430041645690143220003126611700489071011220414500224091680021338144102207612510217081331012138185014237512400214559511314878410411256410219891230122156145102Question

Asked Mar 11, 2020

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Using the data below, can I get some help responding this problem?Using checking account balance as the dependent variable and using as independent variables the number of ATM transactions, the number of other services used, whether the individual has a debit card, and whether interest is paid on the particular account, write a report indicating which of the variables seem related to the account balance and how well they explain the variation in account balances. Should all of the independent variables proposed be used in the analysis or can some be dropped?

Balance | ATM | Services | Debit | Interest | City |

1756 | 13 | 4 | 0 | 1 | 2 |

748 | 9 | 2 | 1 | 0 | 1 |

1501 | 10 | 1 | 0 | 0 | 1 |

1831 | 10 | 4 | 0 | 1 | 3 |

1622 | 14 | 6 | 0 | 1 | 4 |

1886 | 17 | 3 | 0 | 1 | 1 |

740 | 6 | 3 | 0 | 0 | 3 |

1593 | 10 | 8 | 1 | 0 | 1 |

1169 | 6 | 4 | 0 | 0 | 4 |

2125 | 18 | 6 | 0 | 0 | 2 |

1554 | 12 | 6 | 1 | 0 | 3 |

1474 | 12 | 7 | 1 | 0 | 1 |

1913 | 6 | 5 | 0 | 0 | 1 |

1218 | 10 | 3 | 1 | 0 | 1 |

1006 | 12 | 4 | 0 | 0 | 1 |

2215 | 20 | 3 | 1 | 0 | 4 |

137 | 7 | 2 | 0 | 0 | 3 |

167 | 5 | 4 | 0 | 0 | 4 |

343 | 7 | 2 | 0 | 0 | 1 |

2557 | 20 | 7 | 1 | 0 | 4 |

2276 | 15 | 4 | 1 | 0 | 3 |

1494 | 11 | 2 | 0 | 1 | 1 |

2144 | 17 | 3 | 0 | 0 | 3 |

1995 | 10 | 7 | 0 | 0 | 2 |

1053 | 8 | 4 | 1 | 0 | 3 |

1526 | 8 | 4 | 0 | 1 | 2 |

1120 | 8 | 6 | 1 | 0 | 3 |

1838 | 7 | 5 | 1 | 1 | 3 |

1746 | 11 | 2 | 0 | 0 | 2 |

1616 | 10 | 4 | 1 | 1 | 2 |

1958 | 6 | 2 | 1 | 0 | 2 |

634 | 2 | 7 | 1 | 0 | 4 |

580 | 4 | 1 | 0 | 0 | 1 |

1320 | 4 | 5 | 1 | 0 | 1 |

1675 | 6 | 7 | 1 | 0 | 2 |

789 | 8 | 4 | 0 | 0 | 4 |

1735 | 12 | 7 | 0 | 1 | 3 |

1784 | 11 | 5 | 0 | 0 | 1 |

1326 | 16 | 8 | 0 | 0 | 3 |

2051 | 14 | 4 | 1 | 0 | 4 |

1044 | 7 | 5 | 1 | 0 | 1 |

1885 | 10 | 6 | 1 | 1 | 2 |

1790 | 11 | 4 | 0 | 1 | 3 |

765 | 4 | 3 | 0 | 0 | 4 |

1645 | 6 | 9 | 0 | 1 | 4 |

32 | 2 | 0 | 0 | 0 | 3 |

1266 | 11 | 7 | 0 | 0 | 4 |

890 | 7 | 1 | 0 | 1 | 1 |

2204 | 14 | 5 | 0 | 0 | 2 |

2409 | 16 | 8 | 0 | 0 | 2 |

1338 | 14 | 4 | 1 | 0 | 2 |

2076 | 12 | 5 | 1 | 0 | 2 |

1708 | 13 | 3 | 1 | 0 | 1 |

2138 | 18 | 5 | 0 | 1 | 4 |

2375 | 12 | 4 | 0 | 0 | 2 |

1455 | 9 | 5 | 1 | 1 | 3 |

1487 | 8 | 4 | 1 | 0 | 4 |

1125 | 6 | 4 | 1 | 0 | 2 |

1989 | 12 | 3 | 0 | 1 | 2 |

2156 | 14 | 5 | 1 | 0 | 2 |

Step 1

**Solution:**

Enter the data in excel sheet.

Here, the dependent variable is balance. Independent variables are ATM, Services, Debit, and Interest.

The regression equation is obtained by using EXCEL.

Procedure:

- Click on the Data>Data analysis>Regression.
- Enter input Y range as $A$1:$A$61 and input X range as $B$1:$E$61.
- Check on...

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