Please see attached file for proper format.
13.30 A researcher used stepwise regression to create regression models to predict BirthRate (births per 1,000) using five predictors: LifeExp (life expectancy in years), InfMort (infant mortality rate), Density (population density per square kilometer), GDPCap (Gross Domestic Product per capita), and Literate (literacy percent). Interpret these results.
Regression Analysis-Stepwise Selection (best model of each size)
Birth Rate is the dependent variable
p-values for the coefficients
Nvar LifeExp InfMort Density GDPCap Literate s Adj R2 R2
1 .0000 6.318 .722 .724
2 .0000 .0000 5.334 .802 .805
3 .0000 .0242 .0000 5.261 .807 .811
4 .5764 .0000 .0311 .0000 5.273 .806 .812
5 .5937 .0000 .6289 .0440 .0000 5.287 .805 .812
The solution discusses various aspects of multiple regression analysis.
Use of Simple-Linear and Multiple Regression Analysis
1. Can you think of an example where analysis of simple-linear and multiple regression analysis can be used? How is regression analysis being used in the financial industry, or how should it be used to formulate strategies?
2. What are examples in which regression analysis is used for forecasting?
3. What is correlation analysis? How can correlation analysis be used in a business decision or examples specifically related to strategy formulation and implementation?
4. What are some primary and secondary sources of data that may be used in correlation and regression analysis?
5. What is the difference between correlation and causation? Give examples