1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal income required to meet consumer load payments and mortgage payments for selected years are found in the data below debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv") debt i) Construct a scatterplot with a simple regression for this data set. ii) Check the error model assumption visually by constructing a residual plot and QQplot of the residuals. Interpret what you see. iii) Estimate the population regression slope by constructing 95% confidence interval. Give a brief interpretation of the esimated slope in the context of the problem. iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance. Given an appropriate conclusion.
1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal income required to meet consumer load payments and mortgage payments for selected years are found in the data below debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv") debt i) Construct a scatterplot with a simple regression for this data set. ii) Check the error model assumption visually by constructing a residual plot and QQplot of the residuals. Interpret what you see. iii) Estimate the population regression slope by constructing 95% confidence interval. Give a brief interpretation of the esimated slope in the context of the problem. iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance. Given an appropriate conclusion.
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter4: Writing Linear Equations
Section: Chapter Questions
Problem 14CR
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Can you help me solve this using R?
![1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal
income required to meet consumer load payments and mortgage payments for selected years are
found in the data below
debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv")
debt
i) Construct a scatterplot with a simple regression for this data set.
ii) Check the error model assumption visually by constructing a residual plot and QQplot
of the residuals. Interpret what you see.
iii) Estimate the population regression slope by constructing 95% confidence interval.
Give a brief interpretation of the esimated slope in the context of the problem.
iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance.
Given an appropriate conclusion.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb1a5b0db-5cee-4418-8fd7-a7271064094c%2F6f072e73-3224-45f7-b53b-da19a6c6101e%2F3c3ijb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. Data from the US Federal Reserve Board (2002) on the percentage of disposable personal
income required to meet consumer load payments and mortgage payments for selected years are
found in the data below
debt <- read.csv("https://www.siue.edu/~jpailde/debt.csv")
debt
i) Construct a scatterplot with a simple regression for this data set.
ii) Check the error model assumption visually by constructing a residual plot and QQplot
of the residuals. Interpret what you see.
iii) Estimate the population regression slope by constructing 95% confidence interval.
Give a brief interpretation of the esimated slope in the context of the problem.
iv) Perform a hypothesis test on the regression slope, use a 5\% level of significance.
Given an appropriate conclusion.
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