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QUA2321: Quantitative Methods II Assignment #3: Multiple Regression and Correlation Analysis Fall 2015 Section 050 Due Date: Thursday, December 14,...
Question 1 [25 marks]A mortgage department of a large bank is studying its recent loans. Of particular interest is howsuch factors as the value of the home (in thousands of dollars), education level of the head ofthe household, age of the head of the household, current monthly mortgage payment (indollars), and the gender of the head of the household (male = 1, female = 0) relate to the P a g e 2 | 2family income. Are these variables effective predictors of the income of the household? Arandom sample of 25 recent loans (shown in the table above) is obtained.(a) Determine the regression equation. (5 marks)(b) What is the value of
