Age of Boat Owners Analysis
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6. Assume next that the study of boat owners also produced information on the age of the owner. The data on age is as follows. (See Excel attachment for data and solution).
a. Compute a multiple linear regression with statistical software.
b. What would you expect the boat cost to be for a 35 yr old with 40,000 in income?
c. Interpret results.
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Solution Summary
This solution uses regression statistics and an ANOVA table to determine the multiple regression equation and predict the cost of a boat for a 35 year old with a 40,000 income.
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