Estimate and report on a multiple regression model

Reference no: EM133092398

Statistics for Data Analytics

Project: The IncomeData.csv file uploaded on Moodle contains financial and profile data on a sample of 4500+ individuals.

Using these sample data, you are required to estimate and report on a multiple regression model to facilitate understanding of the criteria that influence income and useful for the prediction of same.

In addition to his/her income in thousands of Euro, data is provided for each individual in the sample on: Age in years (age)
Years of education (yrsed)
Level of education (edcat)
1=Did not complete high school. 2=High school degree. 3=Some college. 4=College degree. 5=Postgraduate degree
Years with current employer (yrsempl) Credit card debt in thousands (creddebt) Other debt in thousands (othdebt)
Ever defaulted on a bank loan (default) 0=no. 1=yes
Job satisfaction (jobsat)
1=Highly dissatisfied. 2=Somewhat dissatisfied. 3=Neutrat 4=Somewhat satisfied. 5=Highly satisfied
Home ownership (homeown) 0=rent t=own
Years at current address (address) Number of cars owned/leased (cars) Value of primary vehicle (carvalue)

In your report you should:

1. Use descriptive statistics and appropriate visualisations to enhance understanding of the variables in the dataset.

2. Describe the model building steps you undertook in the process of arriving at your final regression model. The rationale for rejecting intermediate models should be explained clearly and details provided on rationale for choosing predictors, treatment of outliers, transformations undertaken etc.

3. Provide details on diagnostics undertaken to verify that the Gauss Markov and other relevant assumptions of multiple regression have been satisfied.

4. Provide a succinct summary of the parameters of your final model and details of model performance and fit.

The report is subject to a maximum page count of 5 pages. The paper is intended to be a business report but please use the fonts. layout and treatment of figures specified in the IEEE format.

Attachment:- IncomeData.rar

Reference no: EM133092398

Questions Cloud

How is analytics used in domains : How is Analytics used in following domains. For each domain, Give examples of 2-3 key metrics/key questions that you would measure/track to improve business out

What is black swan event : What is a black swan event? Give 2 examples of black swan events throughout history.

How are the wetlands most commonly protected : How are the wetlands most commonly protected?

Example of a workplace project : This case study deals with an example of a workplace project and the range of negotiations related to the project.

Estimate and report on a multiple regression model : Estimate and report on a multiple regression model to facilitate understanding of the criteria that influence income and useful for the prediction of same

Calculate the actual direct labor hours worked : The total factory overhead is divided into 3 variances - spending, idle capacity and efficiency. Calculate the actual direct labor hours worked

Protecting natural resources : Should the federal government play a larger role in protecting natural resources? Why or why not?

How to paraphrase properly and learning how to annotate : What is the objective or purpose in practicing how to paraphrase properly and learning how to annotate?

Evaluate the risk of eve investment australia : Conduct a SWOT analysis to evaluate the risk of eve investment Australia, in the 2020 finical year

User Account

All Pages