Multiple Regression- standard error of estimate
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David Savageau and Geoffrey Loftus, the authors of Places Rated Almanac (publishes in 1997 by Macmillan), have ranked 325 metropolitan areas in the United States with consideration of the following aspects of life in each area: cost of living, transportation, jobs, education, climate, crime, arts, health, and recreation. The data is in the attached file. The last column lists the city's overall score, which is the average of the other scores. (You can check this with Excel's AVERAGE function.)
a. Use multiple regression analysis to explore the relationship between the metropolitan area's overall score and the set of potential explanatory variables.
b. Does the given set of explanatory variables do a good job of explaining changes in the overall score? Explain why or why not.
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Solution Summary
The solution uses multiple regression analysis to explore the relationship between metropolitan areas in Savageau and Loftus' study with a number of independent variables.
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