Regression

Sheet1

Using Excel, generate regression estimates for the following model: Annual Amount Spent on Organic Food = α + bAge After you have reviewed the results from the estimation, write a report to your boss that interprets the results that you obtained. Please include the following in your report: The regression output you generated in Excel. Your interpretation of the coefficient of determination (r-squared). Your interpretation of the coefficient estimate for the Age variable. Your interpretation of the statistical significance of the coefficient estimate for the Age variable. The regression equation with estimates substituted into the equation. (Note: Once the estimates are substituted into the regression equation, it should take a form similar to this: y = 10 +2x) A discussion of how this equation in item 5 above can be used to estimate annual expenditures on organic food. An estimate of “Annual Amount Spent on Organic Food” for the average consumer. (Note: You will need to substitute the average age into the regression equation for x, the intercept for α, and solve for y.)