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Consumer Research, Inc. - Descriptive Statistics and Regression Analysis

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Added on  2023-06-11

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This report presents the findings of a study conducted by Consumer Research, Inc. using descriptive statistics and regression analysis to analyze the relationship between annual income, household size, and annual credit card charges. The report includes a summary of the data using methods of descriptive statistics, estimated regression equations using annual income and household size as independent variables, and a combined regression equation. The report also discusses the need for other independent variables that could be added to the model.

Consumer Research, Inc. - Descriptive Statistics and Regression Analysis

   Added on 2023-06-11

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Running Header: Consumer Research, Inc. 1
Consumer Research, Inc.
Student’s name: Obaid Alshaali
Student’s ID:
Institution:
Consumer Research, Inc. - Descriptive Statistics and Regression Analysis_1
Running Header: Consumer Research, Inc. 2
1. Use methods of descriptive statistics to summarize the data. Comment on the
findings.
Figure 1: Descriptive analysis
The income of the 50 consumers in the sample had a mean of 43.48 thousand dollars and a
standard deviation of 14.55 thousand dollars.
The average household size of the sample was 3.42 with a standard deviation of 1.74.
The amount charged on the sample had a mean of 3,946.06 dollars with a standard deviation of
933.49 dollars.
Consumer Research, Inc. - Descriptive Statistics and Regression Analysis_2
Running Header: Consumer Research, Inc. 3
2. Develop estimated regression equations, first using annual income as the
independent variable and then using household size as the independent variable.
Which variable is better predictor of annual credit card charges? Discuss your
findings.
Figure 2: Annual income as the independent variable
Consumer Research, Inc. - Descriptive Statistics and Regression Analysis_3

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