![]() ![]() Interpret this interval.Ĩ.Using an interval, estimate the average income for customers that have credit balances of $4,000. Interpret your results, including the p-value.Ħ.Based on your findings in 1-5, what is your opinion about using CREDIT BALANCE to predict INCOME? Explain.ħ.Compute the 95% confidence interval for beta-1 (the population slope). Interpret.ĥ.Test the utility of this regression model (use a two tail test with α =.05). Interpret.Ĥ.Determine the coefficient of determination. Interpret.Ģ.Determine the equation of the "best fit" line, which describes the relationship between INCOME and CREDIT BALANCE.ģ.Determine the coefficient of correlation. CREDIT BALANCE, including the graph of the "best fit" line. ![]() Using MINITAB perform the regression and correlation analysis for the data on INCOME (Y, the dependent variable) and CREDIT BALANCE (X, the independent variable) by answering the following.ġ.Generate a scatterplot for INCOME vs.
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