3.3 Next, to determine the impact of demographic characteristics of clients on their savings, themanagement of the bank requested your help to perform a multiple regression analysis of thedata. You formulated a linear multiple regression model inform:Saving = a, + acXg + amsXms + a¾Xa + ɛWhere,a, is the constant,aç is the correlation coefficient for the gender of the client,aMs is the correlation coefficient for the marital status of the client,a, is the correlation coefficient for age of the client,Xg is the Gender variableXMs is the marital status variableXA is the age variable ande is the error termThe data analysis produced the following output:Figure 3.3.1:Tests of NormalityKolmogorov-SmirnovSig.Shapiro-WilkStatisticdfStatisticSig.Savingsa. Lilliefors Significance Correction.173205.000780205.000Model SummaryAdjusted RSquareTable 3.3.2:ModelR SquareStd. Error of the Estimate319.102.0882090.92220a. Predictors: (Constant), Age, Gender, Marital_StatusTable 3.3.3:ANOVAModelSum of SquaresdfMean SquareFSig.Regression99640655.5603 33213551.8507.597.000Residual878763087.0002014371955.657Total978403742.600204a. Dependent Variable: Savingb. Predictors: (Constant), Age, Gender, Marital_StatusTable 3.3.4:CoefficientsStandardizedUnstandardized CoefficientsCoefficientsModelBStd. ErrorBetaSig.(Constant)-1740.750694.359-2.507.013Gender978.658296.636.2213.299.001Marital_Status364.777128.099.1942.848.00511.704Agea. Dependent Variable: Saving13.251.060.883.3783.3.1 Interpret the output depicted in in 3.3 above.3.3.2 Specify the reason(s) for the low Goodness of Fit of the multiple regression model andrecommend a potential solution.3.3.3 Briefly explain the role of literature review in the process of identifying predictor variables forthe multiple regressin model and how it minimises selection bias.

Answer: 4.3.1 As per the Output of the multiple regression given in the question, there are three…

3.3.1 Interpret the output depicted in in 3.3 above. 3.3.2 Specify the reason(s) for the low Goodness of Fit of the multiple regression model and recommend a potential solution. 3.3.3 Briefly explain the role of literature review in the process of identifying predictor variables for the multiple regressin model and how it minimises selection bias.

3.3.1 Interpret the output depicted in in 3.3 above. 3.3.2 Specify the reason(s) for the low Goodness of Fit of the multiple regression model and recommend a potential solution. 3.3.3 Briefly explain the role of literature review in the process of identifying predictor variables for the multiple regressin model and how it minimises selection bias.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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