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Thread: Regression questions

  1. #16
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    Re: Regression questions




    Quote Originally Posted by Mean Joe View Post
    Since you're using Excel, you could plot your data (Y vs X), and add the regression line that fits the plot.

    Since the plot is Y vs X, then the equation for the line would be Y=83.4160 + 10.2096X. Don't worry about the sum of X, it's not in your plot.
    Ok. Thanks for the help.

  2. #17
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    Re: Regression questions

    Ok. For question 3. A family has an annual gross income of $100,000. Assuming there are 52 weeks in the year, what is their weekly food expenditure?

    Do I just plug these numbers into the formula?

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    Re: Regression questions

    Quote Originally Posted by USMstudent85 View Post
    Ok. For question 3. A family has an annual gross income of $100,000. Assuming there are 52 weeks in the year, what is their weekly food expenditure?

    Do I just plug these numbers into the formula?
    What I meant was do both of these numbers go into the same formula or do I need to use the same equation two times with the different numbers?

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    Re: Regression questions

    Would this be right? Y=83.4160+10.2096(52)

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    Re: Regression questions

    Quote Originally Posted by USMstudent85 View Post
    Would this be right? Y=83.4160+10.2096(52)
    For question #3 would I use this Y=83.4160+10.2096(52). Then for question #4, take $100,000 and divide it by the answer for #3?

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    Re: Regression questions

    For question #3 Would this be right Y=83.4160+10.2096(52)= 614.3152

    For question #4 Would this be right $100,000/52 weeks = 1923.0770. Then take 614.3152/1923.0770 to get .3194 or 32% for the answer

  7. #22
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    Re: Regression questions

    Quote Originally Posted by USMstudent85 View Post
    For question #3 Would this be right Y=83.4160+10.2096(52)= 614.3152

    For question #4 Would this be right $100,000/52 weeks = 1923.0770. Then take 614.3152/1923.0770 to get .3194 or 32% for the answer
    Can anybody tell me if this is correct?

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    Re: Regression questions

    Quote Originally Posted by USMstudent85 View Post
    Ok. For question 3. A family has an annual gross income of $100,000. Assuming there are 52 weeks in the year, what is their weekly food expenditure?

    Do I just plug these numbers into the formula?
    Sorry I didn't see page 2 of this thread earlier.

    Use your equation (Y=a+bX). Very important that you keep mind of what the variables mean. This will get your answer easily:
    X is weekly income in 100s.
    The family has an annual income of 100,000 (=1000 in scale of 100s). Assume 52 weeks per annum.
    Do that and you'll find Y, the weekly expenditure.

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    Re: Regression questions

    Quote Originally Posted by Mean Joe View Post
    Sorry I didn't see page 2 of this thread earlier.

    Use your equation (Y=a+bX). Very important that you keep mind of what the variables mean. This will get your answer easily:
    X is weekly income in 100s.
    The family has an annual income of 100,000 (=1000 in scale of 100s). Assume 52 weeks per annum.
    Do that and you'll find Y, the weekly expenditure.
    So this wouldn't be right for #3? Y=83.4160+10.2096(52)= 614.3152

    Or would I have to take the total from Column B and substitute that number with X? Y=83.4160+10.2096(784.19)

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    Re: Regression questions

    Quote Originally Posted by Mean Joe View Post
    Sorry I didn't see page 2 of this thread earlier.

    Use your equation (Y=a+bX). Very important that you keep mind of what the variables mean. This will get your answer easily:
    X is weekly income in 100s.
    The family has an annual income of 100,000 (=1000 in scale of 100s). Assume 52 weeks per annum.
    Do that and you'll find Y, the weekly expenditure.
    Would I take 1000 and divide it by 52 to get the X value?

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    Re: Regression questions

    Yes.......

  12. #27
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    Re: Regression questions

    For #4 would I take 1000 and divide it by the answer of #3?

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    Re: Regression questions

    From #3, you know how much a family (weekly income = 1,923) spends on food.
    That is an absolute value.

    For #4, you just need to change that into a relative value: (food expenditure / weekly income) x 100%

  14. #29
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    Re: Regression questions


    $279.75(weekly food expenditure)/1,923(weekly income) X 100%= 14.56%

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