How to evaluate quality of multiple regression model
The multiple regression model has more than 1 independent variable. Suggest the business problem which would be solved by multiple regression analysis. How to evaluate quality of multiple regression model?
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You get the $150,000 home loan for 25 years at 4.8% interest compounded monthly. After eight years rate is raised to 6.3%. Determine new payment if term of loan is to remain same.
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Employ formal hypothesis testing and use the appropriate analysis to find out if there are any significant mean differences among three groups. Employ Tukey's HSD test to determine which groups are significantly different.
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Suggest the business problem which would be solved by multiple regression analysis. How to evaluate quality of multiple regression model?
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