A small business analyst seeks to determine which variables should be used to predict small-business mean annual revenue for U.S. metropolitan areas. The analyst decides to consider the independent variables age, the mean age (in months) of small businesses in the metropolitan area; and BizAnalyzer, the mean BizAnalyzer score of small businesses in the metropolitan area. (The BizAnalyzer score measures on a scale of 1 to100 the level of risk that the small businesses in the metropolitan area present to potential lenders.) The dependent variable, revenue, is mean annual revenue. Using data collected from a sample of 25 metropolitan areas, the regression results are:
a) State the multiple regression equation.
b) Interpret the meaning of the slopes, b1 and b2, in this problem.
c) What conclusions can you reach concerning mean annual revenue?© BrainMass Inc. brainmass.com June 4, 2020, 5:31 am ad1c9bdddf
Each part have been answered in details in Excel. The Solution finds the multiple regression equation and the mean annual revenue.