Last Updated 03 Sep 2020

Regression Analysis and Credit Balance

Category Bank, Credit, Statistics
Essay type Analysis
Words 247 (1 page)
Views 124

Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the "best fit" line. Interpret. Determine the equation of the "best fit" line, which describes the relationship between CREDIT BALANCE and SIZE 2591+ 403. 221 Determine the coefficient of correlation. Interpret. .75/ r-sq(56. 6%). There is a mild correlation. Determine the coefficient of determination. Interpret. 56. 6% Test the utility of this regression model (use a two tail test with ? =. 05). Interpret your results, including the p-value. P-value=0. Reject the null hpothesis.

T value 7. 9147 Based on your findings in 1-5, what is your opinion about using SIZE to predict CREDIT BALANCE? Size is a good predictor for credit balance. Compute the 95% confidence interval for beta-1 (the population slope). Interpret this interval. (300. 79, 505. 66) Using an interval, estimate the average credit balance for customers that have household size of 5. Interpret this interval. (4368. 20, 4846. 90) Using an interval, predict the credit balance for a customer that has a household size of 5. Interpret this interval. (3337. 87, 5877. 23)

What can we say about the credit balance for a customer that has a household size of 10? Denotes a point that is an extreme outlier in the predictors. Using MINITAB run the multiple regression analysis using the variables INCOME, SIZE and YEARS to predict CREDIT BALANCE. State the equation for this multiple regression model. Credit balance= 1276. 02+ 32. 2719 income(1000) + 346. 852 size + 7. 88209 years. Is this multiple regression model better than the linear model that we generated in parts 1-10? Yes. Reject years there is no corralation of coefficient. Income is useful and years in combination with size and income.

Order custom essay Regression Analysis and Credit Balance with free plagiarism report


This essay was written by a fellow student. You can use it as an example when writing your own essay or use it as a source, but you need cite it.

Get professional help and free up your time for more important courses

Starting from 3 hours delivery 450+ experts on 30 subjects
get essay help 124  experts online

Did you know that we have over 70,000 essays on 3,000 topics in our database?

Cite this page

Explore how the human body functions as one unit in harmony in order to life

Regression Analysis and Credit Balance. (2017, Mar 23). Retrieved from

Don't let plagiarism ruin your grade

Run a free check or have your essay done for you

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Save time and let our verified experts help you.

Hire writer