PlanFinan is a financial planning organisation. The data in PlanFinan1.xlsx was obtained from PlanFinan’s database of a particular group of clients. Use Excel to obtain a multiple linear regression of the variable "Home" (Y) on the variables "Cars" (X1) and “Salary” (X2). According to the regression output, the coefficient of the variable “Cars” is Answer Question 1[input] (please round your answer to 3 decimal places).

Question

BlackTom AI · Accepted Answer

The question asks for the coefficient of the variable “Cars” in a multiple linear regression where Home (Y) is regressed on Cars (X1) and Salary (X2), based on the data from PlanFinan1.xlsx.

First, note what would be required to determine this coefficient: you need to run the regression and examine the regression output, specifically the coefficient estimate associated with X1 (Cars) along with its standard error, t-statistic, and p-value. This information is typically found in the regression coefficients table of the output.

However, the prompt states that the data in PlanFinan1.xlsx was obtained from PlanFinan’s database and asks to obtain the coefficient from the regression output, but the actual data file is not provided here. Without access to PlanFinan1.xlsx or the regression results, it is impossible to compute or identify the exact numerical coefficient for Cars.

Option analysis:
- If you had the data, you would fit the model: Home = β0 + β1*Cars + β2*Salary + ε, and the coefficient β1 would be reported in the output as the estimated effect of Cars on Home holding Salary constant. You would round β1 to three decimal places as required.
- Since the dataset is not provided, any attempt to state a numeric value for the Cars coefficient would be speculative. Therefore, the only justifiable answer is that the data required to determine the coefficient are not provided.

In summary, the missing PlanFinan1.xlsx data prevents computation of the Cars coefficient, so the correct course is to acknowledge that the coefficient cannot be determined from the information given. If you later obtain the regression output, you would look up the coefficient for Cars and round it to three decimal places as requested.

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