Math Linear Regression

Math Linear Regression.

You will choose ONE State and use its data file to predict household income (HINCP) using other variables in the data set. Your final model should have a reasonable r squared and an overall “significant” p-value. ( Do not use FINCP as a predictor! FINCP is family income and saying that we can predict a household’s income if we know the family’s income is very nearly a circular argument. For the vast majority of Americans, family income and household income are the same thing.) If any of your predictors have large p-values, be sure to justify why you are including them.

To really impress, make a prediction for a particular household with a given set of predictor variables.

Your report must include:

1) Model, including output including ANOVA and coefficient tables (5 Points).

2) 1-4 complete sentences describing your model (5 Points).

3) Graph. Remember your principles of data viz! (5 Points).

4) Comment on outliers, patterns (this exploration should also include a scatterplot matrix for your predictor variables) (5 Points).

5) R squared better than 25% (partial credit for getting close) (5 Points).

6) Describe each independent variable (what is it?) (5 Points).

7) For each independent variable, speculate on its sign (why is it positive/negative?) (5 Points).

This is the link for the data

https://drive.google.com/drive/folders/1eafsJWJj3w…

Math Linear Regression

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