The following data was collected by a particular company to determine if a relationship between the number of people in a household and weekly food expenditures exists. Regression analysis is done using this data, and the following Excel see attached image Household Number in Household Weekly Food Expenses 1 2 $95 2 3 $137 3 5 $165 4 2 $105 5 4 $227 6 4 $240 7 5 $185 a. Identify the independent and dependent variables. b. Using the regression analysis output given above, determine the least-squares regression line. c. Interpret the value of the slope of the regression line in question b and the value of the y
The following data was collected by a particular company to determine if a relationship between the number of people in a household and weekly food expenditures exists.
Regression analysis is done using this data, and the following Excel see attached image
Household |
Number in Household |
Weekly Food Expenses |
1 |
2 |
$95 |
2 |
3 |
$137 |
3 |
5 |
$165 |
4 |
2 |
$105 |
5 |
4 |
$227 |
6 |
4 |
$240 |
7 |
5 |
$185 |
a. Identify the independent and dependent variables.
b. Using the regression analysis output given above, determine the least-squares regression line.
c. Interpret the value of the slope of the regression line in question b and the value of the y
d. Interpret the
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