Chat with us, powered by LiveChat The data attached contains information on customers ratings of your product (CustRate), on a scale of 1 to 100, along with demographic information. The demographic informa - EssayAbode

05 Mar The data attached contains information on customers ratings of your product (CustRate), on a scale of 1 to 100, along with demographic information. The demographic informa

Posted at 02:10h in Business & Finance / Management by

 The data attached contains information on customers’ ratings of your product (CustRate), on a scale of 1 to 100, along with demographic information. The demographic information includes: income (Inc), age (Age), education (Educ), and marital status (Marr). The last variable equals one if the respondent is married and zero otherwise. Assume the data-generating process can be written as:

CustRatei=α+β1Inci+β2Agei+β3Educi+β4Marri+Ui.

  1. Test the hypothesis that income has no impact on customer rating, using a confidence level of 95%. Be sure to provide the reasoning behind your result.
  2. Test the hypothesis that β2=0.05, using a confidence level of 90%. Be sure to provide the reasoning behind your result.
  3. Build a 95% confidence interval for the impact of education on customer rating. Be sure to provide the reasoning for your result.
  4. Build a 95% confidence interval for the impact of being married on customer rating. Be sure to provide the reasoning for your result.
  5. Predict the change in customer rating if a customer’s income increases by $10,000, with no change in age, education, or marital status.

Sheet1

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CustRate Inc Age Educ Marr
28 58402 43 18 0
79 89893 83 17 1
35 58034 51 13 1
35 62843 40 13 0
36 80854 56 13 0
41 86470 65 18 1
43 74518 40 19 1
35 55958 44 14 0
18 50279 41 12 1
46 102499 57 20 0
17 62816 43 18 0
36 79303 76 16 0
83 106960 77 16 0
56 89134 76 15 0
8 39297 35 14 1
58 93130 55 19 1
48 70350 55 16 0
58 92032 67 18 1
49 78536 76 11 1
35 55760 46 13 1
45 48631 45 13 0
50 48622 38 14 1
86 102460 80 16 0
32 38090 32 11 0
44 60977 44 16 1
49 65962 39 19 1
44 47447 37 10 1
16 52479 47 16 1
45 51238 55 10 0
50 79284 82 11 1
52 73283 41 14 0
53 78156 64 13 0
26 42190 42 10 0
58 90846 82 15 1
75 88087 71 12 0
54 77947 79 12 1
46 73839 72 10 1
67 79504 70 17 1
79 103551 71 20 0
55 81651 73 11 1
38 76964 73 11 0
41 92002 77 16 1
56 92630 65 17 0
38 81637 62 13 0
41 59079 60 10 0
47 53481 33 13 0
33 61981 31 18 0
22 47444 34 11 0
45 62345 61 10 1
59 90636 71 11 0
39 66924 47 16 0
6 43472 34 14 0
36 63223 41 19 0
83 102024 83 16 1
60 91859 50 20 1
50 51800 32 17 1
68 74147 46 20 0
41 49001 40 15 1
21 63189 52 12 0
45 65693 40 20 1
59 82952 81 14 0
23 65459 37 19 0
47 73623 67 11 1
46 58703 53 10 0
39 75724 52 14 0
69 89721 79 17 1
84 92167 69 18 1
50 84185 75 15 0
45 62827 41 16 0
66 73275 54 15 0
81 97682 73 11 0
68 91359 84 10 1
68 104446 81 16 1
15 32026 38 10 0
24 63546 49 16 1
37 61179 38 17 1
50 71387 56 19 0
64 100364 71 18 1
24 37724 28 10 1
68 84308 60 12 1
38 61819 50 16 1
20 34068 29 13 1
28 54646 30 17 1
57 84758 59 12 1
41 50313 30 19 0
62 73319 64 12 0
19 52824 36 15 0
59 96290 63 20 1
59 94847 82 10 0
73 106430 83 20 1
68 94519 72 17 1
60 79568 44 20 0
33 70571 65 13 1
42 77195 56 18 0
61 94754 67 13 0
57 63482 60 12 1
36 54621 40 18 1
58 98958 83 16 1
17 62514 41 19 1
58 94638 66 12 1
59 77590 65 16 1
56 62972 52 18 1
34 75715 50 18 1
50 66851 48 14 0
26 52452 48 10 1
61 120595 76 16 0
55 81983 79 13 1
41 66972 52 15 0
28 38026 35 17 1
40 93236 76 18 0
39 98003 75 17 1
26 43014 42 12 1
34 57142 41 13 0
55 89995 74 18 1
32 68975 50 16 0
53 76995 78 15 0
31 41771 32 13 1
75 107119 82 17 0
36 79423 60 15 1
33 52455 37 11 0
43 74186 53 18 1
50 88230 76 13 1
49 77681 68 14 0
53 81907 60 20 0
32 74105 53 11 1
71 103295 82 17 1
43 62365 41 20 0
24 50388 34 17 0
29 73826 43 18 0
50 96867 76 20 0
66 81473 59 15 0
46 84895 71 18 1
14 50703 29 17 1
22 50514 35 19 1
65 91143 76 17 1
33 60094 51