In the Week 4 assignment, you were asked to build a multiple regression model to explain the variability in the median school year, using a minimum of seven independent variables. Using the same model, thoroughly assess your model's diagnostics. Identify all relevant assessment dimensions, briefly outline their purpose and importance, and provide an assessment of your model in terms of the identified diagnostic measures. Cite any sources using the APA format on a separate page.
Analysis Before analyzing the data, I prepare the data set dropping the missing observations and recoding the nominal and ordinal variable. After eliminating the the missing observations, we are left with 1706 observations. There are three continuous variables: Medianschoolyears, Age and WealthScore. The corelation coefficient matrix of all continuous variables is given below: MedianSchoolYearsAgeWealthScore MedianSchoolYears1 Age0.09747230471 WealthScore0.71898314050.16624654131 All the correlation coefficients are significant at 5% level of significance. Some of the possible discrete and qualitative variables are included in the analysis by the correlation with MedianSchoolYears. Gender and occupation can influence years of schooling. Marital status and number of children may be responsible for years in school. Also, mail and different dimension in life like fitness, good life leading and domestic file may lead to more years of schooling. How these variables can affect the medianschoolyears can be tested by measuring their association with MedianSchoolYears. MedianSchoolYearsGenderOccupationMaritalStatusNumberOfChildrenMailResponderMailBuyerMailDonorOutdoorsDimensionAthleticDimensionFitnessDimensionDomesticDimensionGoodLifeDimension MedianSchoolYears1 Gender0.10068922891 Occupation-0.1522814383-0.25388631161 MaritalStatus-0.0347167212-0.07817713750.38690478771 NumberOfChildren0.03477930020.0688449869-0.10039550470.03782812551 MailResponder0.21695559190.116986647-0.2272582604-0.06662401340.06152688111 MailBuyer0.20660885770.1186074782-0.2083204768-0.064380680.06533257090.9628634171 MailDonor0.06712302530.0237778197-0.0959513022-0.0136692877-0.08107009380.20975251680.18815381911 OutdoorsDimension0.0529053104-0.11136973270.19237261720.0623130236-0.1291117758-0.0645912877-0.0679526957-0.01190880751 AthleticDimension-0.0962714409-0.08947817390.2516701240.0645859615-0.1018406691-0.1020833763-0.1007957616-0.06791001130.28114924961 FitnessDimension-0.1149205812-0.10347251470.29504819370.0837160059-0.0765728607-0.13506727-0.1352154528-0.10315819630.25995367840.51556823671 DomesticDimension-0.0348554599-0.09085424180.33078084520.1067621459-0.0946446102-0.1689632853-0.1739313628-0.0570724640.36186528140.37675553360.43407828521 GoodLifeDimension-0.0981151512-0.07860311030.29796010110.0858643882-0.019902746-0.1606543094-0.1608556613-0.07010350670.24402033310.37696634640.44627349790.5744675331 It can be seen that Gender, Occupation, MailResponder, MailBuyer, FitnessDimension and GoodlifeDimension are significantly correlated with MedianSchoolYears. I include these variables in the regression analysis. SUMMARY OUTPUT Regression Statistics Multiple R0.721369755 R Square0.5203743234 Adjusted R Square0.5181132713 Standard Error0.9892537038 Observations1706 ANOVA dfSSMSFSignificance F Regression81801.8168610178225.2271076272230.14698492272.55235174597968E-264 Residual16971660.72304519550.9786228905 Total17053462.5399062134 CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0% Intercept9.97868409430.150420660466.338520687209.68365460110.27371358759.68365460110.2737135875 Age-0.00137613130.0017384894-0.79156729030.4287236494-0.00478593970.0020336771-0.00478593970.0020336771 WealthScore0.01134247680.00028254540.14396518712.61071918383401E-2480.01078830360.01189665010.01078830360.0118966501 Gender-0.12332895720.0502525115-2.45418494510.0142202729-0.2218923656-0.0247655487-0.2218923656-0.0247655487 Occupation-0.00033587550.0050272796-0.06681058420.9467403673-0.01019619480.0095244438-0.01019619480.0095244438 MailResponder0.07195742160.11382818620.63215820210.5273686623-0.15130095270.2952157958-0.15130095270.2952157958 MailBuyer-0.12109731410.1133917188-1.06795553790.2856924633-0.34349961730.1013049892-0.34349961730.1013049892 FitnessDimension-0.05846926430.075107906-0.77847016890.4364004145-0.20578311990.0888445913-0.20578311990.0888445913 GoodLifeDimension0.06525091590.07842570580.8320092920.4055207614-0.08857034880.2190721807-0.08857034880.2190721807 The above regression analysis reveals that the variables WealthScore and Gender are only statistically significant factors of MedianSchoolYears. All other independent variables are insignificant. MedianSchoolYears increases 0.01 units with one unit change in Welthscore. MedianSchoolYears decreases 0.12 units with change in Gender. Data HouseholdIDCityStateMSACodeIncomeLengthOfResidencePresenceOfChildrenMedianSchoolYearsAgeWealthScoreGenderOccupationMailResponderMailBuyerFitnessDimensionGoodLifeDimensionMaritalStatusNumberOfChildrenMailDonorOutdoorsDimensionAthleticDimensionDomesticDimensionRegionComputerOwnerNumberOfCarsTruckOwnerCodeNewVehicleCodeStandardRetailLowEndDepartmentMainStreetRetail1pscaleRetailCatalogShowroomComp1terElectronicF1rnit1reHomeOfficeS1ppl0HomeImprovementMembershipWareho1seSportingGoodsTVMailOrderOwnacatOwnadogDietConcernsVeteraninHouseholdOwnCellularphoneOwnMotorcycleOwnRVOwnSwimmingpoolOnlinePurchaserWealthRatingEstimatedMedianFamilyIncome AB100794446ManchesterCTUnder $20,000In the 3rd YearU1260141.1201311111001115100469835 BL103110217AnkenyIA$50,000 - $74,999In the 3rd YearU14.530246.381600111000118100111111111111001000000764938 AL100297826Lake TappsWA$75,000 - $99,99915+ YearsU13.562375.3311322112011116100011111111111000000000559645 AK103361183Grand RapidsMI$50,000 - $74,99915+ YearsY13.444333.8815211114110111200101111111111001010001562719 AL102281729KnoxvilleTN$40,000 - $49,999In the 6th YearY14.630323.68113220022010020110101010111111011000001655903 AA100557115CambridgeMN5120$150,000 - $174,999In the 10th YearU13.562332.89013221130011181110111111111111001110001 AU102418311StoughtonMA1120$75,000 - $99,99915+ YearsU14.268384.211911112001115100011001111111001101110 BS102737313RaymondNH4160$75,000 - $99,99915+ YearsY12.646295.39013110132000151000 BQ103379666North MankatoMN$50,000 - $74,99915+ YearsU13.156274.6712221120011081200111011111111001010001 AX102690269Los AngelesCA4480$30,000 - $39,99915+ YearsY12.436363.491122113201116100001111111111000000000 AJ102079864AzleTX2800$40,000 - $49,999In the 3rd YearY11.828190.1301300113101119100 BF101795019RossvilleGA1560Under $20,000In the 7th YearU10.734102.301300113001117100 AS101518382Lehigh AcresFL2700$50,000 - $74,999In the 1st YearU11.926174.67113001130011171101 BT102581146West ColumbiaSC1760$250,000+In the 4th YearY12.552376.971122112201117100001010011111011010001 AE102386836Warner RobinsGA4680Under $20,000In the 2nd YearY11.350180.2601300113101117100111111111111001000010 BT101916705AkronOH80$50,000 - $74,999In the 4th YearY1244244.08013221131011111010 AF101535688JohnstonRI6480$30,000 - $39,99915+ YearsY12.248357.5711322111101115100000011111111111010010 BT100905543MineolaTX$30,000 - $39,999In the 2nd YearY11.560178.62113221133111190000111111111111011001001 AR100318955Grants PassOR$75,000 - $99,99915+ YearsU11.982284.21013221130011161200001011111111001000000 AH100794933SalemOR$50,000 - $74,999In the 12th YearY12.338261.51013001133011161010101111011111001110111 AB101731499Somers PointNJ560$20,000 - $29,999In the 3rd YearU12.366234.2101300113001113100111111111111111110110 BS100678069PetalumaCA7500$40,000 - $49,99915+ YearsU14.666490.4611322003000006100000011011110111000000 BB100821672MoosupCT$75,000 - $99,999In the 9th YearY12.146310.5301322113401115100101011011110101000001 BA102835475CovingtonGA520$50,000 - $74,999In the 15th YearY11.566299.341522112101117100101011011111101010001 AK100931054DillonSC$20,000 - $29,999In the 12th YearY1154190.1301300113101117100111111111111000000000 AP102795843FlemingtonMO$75,000 - $99,999In the 6th YearU11.546191.1201221120011181200 AY102599396CerritosCA4480$125,000 - $149,99915+ YearsU15.364490.461122002011116100000011011111000000000 BH102034931ColumbiaSC1760$40,000 - $49,999In the 3rd YearU15.252203.2901300112001117100 BT102671792WalhallaSCUnder $20,000In the 14th YearU11.568151.321111111001117100011111111111011010011 AP102934858EdenNY1280$75,000 - $99,999In the 2nd YearY13.538285.8611111122011131110011111101111011010001 AR102810155CorvallisMT$75,000 - $99,999In the 7th YearU13.164274.67013221130011141011111111111111011000100 AG102694587SalinaKS$20,000 - $29,99915+ YearsU13.376186.840222112001118100001010111111001001000 AA100276439CrestviewFL2750$75,000 - $99,999In the 2nd YearU1258229.28013111130011171111001011111111101010100 AX100815576CovingtonVA$75,000 - $99,999In the 6th YearY11.938247.701311113201117100 BT100779542Holly Lake RaTXUnder $20,000In the 7th YearU12.870136.84113111120011191100 AT103418941Crp ChristiTX1880$125,000 - $149,99915+ YearsU14.188325.9912221020011190201010011011111001000001 AF102360978Queens VlgNY5600$30,000 - $39,999In the 4th YearU12.358349.34113221120011131100111111111111001010001 AT103049290LititzPA4000$40,000 - $49,999In the 11th YearU10.852200.660100113001113100 BM102055805LanettAL$20,000 - $29,99915+ YearsU11.434178.95113221130011121211011111111111001010001 AN103221326MishawakaIN7800$75,000 - $99,999In the 14th YearY13.748332.241522012101011100 BK102944161WestfieldNY3610$50,000 - $74,999In the 12th YearY11.946283.5512111132011131110111111111111011000000 BE102692940Walnut CreekCA5775$40,000 - $49,999In the 2nd YearY15.346376.641600111101116100 AD102631952W LafayetteOH$50,000 - $74,999In the 8th YearU11.950245.07013001110011111110001111111111010010001 BL103145929BonoAR3700$30,000 - $39,999UnknownY11.540153.2911311112010119000111111111111111000000 BF102458607MoorefieldWVUnder $20,000In the 3rd YearU11.244100013111110001171300 BA102412106El DoradoAR$100,000 - $124,999In the 15th YearU11.944232.570100102001109100001011111111000000000 AK100357946CorinthNY160$30,000 - $39,999In the 8th YearU11.244234.87113221110011131011101011111111010000101 AV101609047Rock SpringsWY$100,000 - $124,999In the 2nd YearY12.446307.24113221121011141000011011111111010000000 AF102538917Oro ValleyAZ$40,000 - $49,999In the 4th YearU14.378312.1701220020011141201010111111111011110010 AM100514226Las VegasNV4120$125,000 - $149,999In the 2nd YearU14.254361.5101311111001114100011111111111101010001 AV102445978DallasTX1920$250,000+In the 8th YearY15.748479.9311220032010191011111011111111101010000 AA100769642NorthfieldMN$75,000 - $99,999In the 11th YearY13.752364.4718220121000080010011011011101011100101 AF102614966Land O LakesFL8280$30,000 - $39,999In the 7th YearU13.748321.3801221020010070111010111111111011110001 AD101964085Ft WashingtonMD8840$175,000 - $199,999In the 11th YearY16.450479.93013111131011171100 BP103770881SpringdaleAR2580$40,000 - $49,999In the 6th YearU13.282261.180721101001119100111111111111001010100 AW101489070Cedar LakeIN2960$40,000 - $49,999In the 6th YearY12.264287.501311112101111100 AC103036404MiltonPA$50,000 - $74,999In the 9th YearU11.830186.840122111001113100 AA100672436HastingsMN5120$75,000 - $99,99915+ YearsY13.138397.37013111134011181010111111111111011010001 AG102902028Mount GileadNC$30,000 - $39,999In the 10th YearU11.154158.550400111001017100111111111111011010001 AC103075969WestlandMI2160$75,000 - $99,999In the 15th YearU12.168293.4212110020000010011101011110111001010000 AA103111338RayneLA3880$50,000 - $74,999In the 6th YearY11.146235.8616111121000191210111111111111110000000 BN100801354Virginia BchVA5720$40,000 - $49,999In the 12th YearU1458304.9311300111001117100011111111111001110001 BC102673603SheboyganWI7620Under $20,000In the 2nd YearU12.224155.26013001130011111000111111111111000011001 BA100278000DecaturGA520$50,000 - $74,999In the 8th YearU13.456239.1401322111001117100 BN102583295Virginia BchVA5720$40,000 - $49,999In the 2nd YearU13.150259.870922112001117100001111111111001010001 BT101169040WilliamstonSC3160$50,000 - $74,999In the 7th YearU13.240260.8611322113001117100011111111111011000001 AE102603986MorgantonNC3290$40,000 - $49,999In the 5th YearY13.232256.2511300113101117100 BH102376470IrwinPA6280$75,000 - $99,999In the 14th YearY13.848293.421122112301113100000011011111011000000 AL103091467ShorewoodIL$20,000 - $29,99915+ YearsY13.836384.8711322003201101100001010011110011011010 AG102393477JacksonvilleILUnder $20,000In the 3rd YearU12.424113.160111111001111100 BS102679582SaginawMI6960$50,000 - $74,99915+ YearsU1370285.5302221120111111101001011110110001110000 AR100939542MenashaWI460$50,000 - $74,999In the 4th YearU12.950215.79013201130111111000 AY102590518OrangeburgNY5600$100,000 - $124,999In the 11th YearU13.858367.4311221120011131101 BC102968773FranklinTN5360$75,000 - $99,999In the 5th YearY15.236381.2501221124011020010011011011111011010001 BN102285416WoodbridgeVA8840$100,000 - $124,99915+ YearsU12.576335.21122112001117100001011111110001010001 BL103004438BufordGA520$175,000 - $199,999In the 2nd YearY13.436376.640500112101117100 BR102037394Rochester HilMI2160$150,000 - $174,99915+ YearsU16.230488.8201322113001111100001011111011101010001 BK103109381Kansas CityKS3760Under $20,00015+ YearsU11.372205.920521113001118100011111011111000110001 BN101853156OceansideNY5380$75,000 - $99,99915+ YearsU14.164335.86113221130011131111111111111111000000000 AN103304793WilmingtonMA1120$75,000 - $99,999In the 14th YearU13.152362.170422001001105100001011111011001010011 BL102831397FindlayOH$40,000 - $49,999In the 11th YearU12.358225.3313100120011110200001011111111001110000 BC101775331HilliardFL3600$50,000 - $74,999In the 6th YearU11.462242.11113221130011171101111111111111011000001 BQ100473323CoatesvillePA6160$75,000 - $99,999In the 6th YearU13.548279.6101322111001113100 AH102858283PittsburghPA6280$50,000 - $74,999In the 14th YearU13.970263.490522112001113100000111111111001110000 AT103256521PlainfieldIN3480$75,000 - $99,99915+ YearsU12.368302.31122112001001100001011111111011100000 BH102424743OrangeCA5945$150,000 - $174,99915+ YearsU13.652440.130122002001106100001111111111011100010 BN102078493GambrillsMD720$150,000 - $174,99915+ YearsU15.156490.4611001120011171011111111111111001010000 AZ101505233ParkvilleMD720$75,000 - $99,999In the 2nd YearY11.842331.2511221122011171010111111111111010010101 AR102254233Gt BarringtonMA6320$250,000+15+ YearsU13.562391.781122002001105100001011111011001010001 BP101620826FayettevilleAR2580$20,000 - $29,999In the 2nd YearU12.538267.4311300113001119100001011011111011010111 BM102264474WayneME$75,000 - $99,999In the 8th YearU13.544294.41013221130011151010001111111111011010001 AN100885808NashvilleTN5360$75,000 - $99,999In the 11th YearY13.740314.8013111132011121010111011011110101010001 BT103333242AndersonSC3160$30,000 - $39,99915+ YearsU12.774262.831922112001107100001111111111011110010 BD101332949Laguna HillsCA5945$150,000 - $174,999In the 7th YearU15.962490.4611322112001116100101011111111001000010 AZ101489427UplandCA6780$125,000 - $149,999In the 6th YearU15.278460.530122102001116100001011111111011010010 AY100792419KyleTX640$50,000 - $74,999In the 4th YearU11.734267.43013221130011191200011111111111001101011 AT101706823TownsendDE9160$50,000 - $74,99915+ YearsU11.872289.8113111120011171011011111111111001011100 AX102546238LeonardND2520$75,000 - $99,99915+ YearsU13.260280.26013220030001080000001011111011011111100 BM102830415Jacksons GapAL$250,000+In the 9th YearU12.340403.9511111120011121011101111111111011000000 AH102784743LovettsvilleVA8840$100,000 - $124,999In the 8th YearY1444431.581211112301117100001011011111001000000 AT101126160FlandersNJ5640$75,000 - $99,999In the 4th YearY14.432383.2211311113101113100011111111111011010001 AE101634892GriffinGA520$200,000 - $249,999In the 3rd YearY11.248341.1211322112201117100001011011111000000001 AM100118934IvinsUT$200,000 - $249,999In the 10th YearU14.576441.78113221120011141100101011011111001010000 BD101822200Palm Beach GaFL8960$50,000 - $74,999In the 4th YearU1234205.92013221120011171001 AP103442556CantonMO$20,000 - $29,999In the 4th YearU11.842150.3316110120001080110111111111111011010010 BG103083025BordentownNJ6160Under $20,000In the 9th YearU12.872282.891911111001113100111111111111001100000 AG102489643TacomaWA8200$100,000 - $124,999In the 6th YearU1444293.751111112001116100111011111111000000000 AM102628705BatesvilleAR$75,000 - $99,99915+ YearsU12.552251.321222012000009100001011011111011010011 AY103342033ChesterfieldVA6760$100,000 - $124,999In the 11th YearY13.952401.641621112101117100001011011111011010001 AF102547568Mt PleasantMI$50,000 - $74,99915+ YearsU12.858245.3911221120011111011001011111111001010000 BJ100039888CarlsbadCA7320$50,000 - $74,999In the 2nd YearU1526323.6811300113001116100 AA100283829EugeneOR2400Under $20,000In the 3rd YearY1376279.61113111122011161010101111111111001110011 BB101099406AugustaGA600$20,000 - $29,999In the 2nd YearY12.226211.5111300113101117100111111111111011000000 AH102626809PittsburghPA6280$40,000 - $49,999In the 2nd YearU14.728180.590111111001113100 AE102833431LancasterCA4480$50,000 - $74,999In the 5th YearY13.576376.640111111101116100001111111111011110110 AL102814168El PasoTX2320$50,000 - $74,999In the 8th YearY1538267.7601221124011191011 BG102800831KenoshaWI3800$175,000 - $199,99915+ YearsY12.444385.212211122111111201011011111111001000000 BL103016957DavisonMI2640$30,000 - $39,99915+ YearsU13.366232.8904111110011111101 AB103131248BellevilleIL7040$100,000 - $124,999In the 5th YearY13.932359.5401322013301111100101011111111111010001 AH102416109FranklinNC$40,000 - $49,99915+ YearsU12.270207.570111001001017100111111111111101010000 AD100369201DenverCO2080$75,000 - $99,999In the 2nd YearY15.236346.3812111121011141010111111111111000000000 BH101537916ScottsvilleKY$30,000 - $39,999In the 6th YearY11.632164.14013001113011121201 AH100748347PennsvilleNJ6160$50,000 - $74,999In the 2nd YearY11.734284.2111300113101113100101111111111001010110 BL101079354Otter LakeMI2160$50,000 - $74,999In the 1st YearU11.862199.34113001130011111111 BR102536246AvonOH1680$175,000 - $199,999In the 7th YearU1478405.5911221020011011111001011110111001000011 BD101236205LebanonNHUnder $20,000In the 6th YearU13.438308.2201311111001105100011111111111001000001 AJ101575308FayettevilleNC2560$40,000 - $49,99915+ YearsU11.376196.3811322112001117100111111111111000000000 BM102744192San DiegoCA7320$50,000 - $74,99915+ YearsU12.278364.81122112011116000000011111111010100001 BD102386771NewportNH$50,000 - $74,99915+ YearsY11.160244.7416221122001050001011111111111010010100 AS102241692DetroitMI2160$50,000 - $74,99915+ YearsY11.852231.9101110111011011101 AY103163043ChesapeakeVA5720$50,000 - $74,999In the 7th YearU13.656329.610321112001117100100011111111111010001 BS102298773SaginawMI6960$125,000 - $149,999In the 6th YearU13.458302.6301221120001011011101111011111111110001 AF101459659Weeki WacheeFL8280$30,000 - $39,999In the 3rd YearU11.864224.01113221120011171201010011110111011010011 AR101670935DaltonMA6320$40,000 - $49,999In the 6th YearU13.630223.6801322113011115100 AX102047016ChicagoIL1600$50,000 - $74,999In the 4th YearU13.652390.1311322112001111100001011111111001000000 AX102967928ChicagoIL1600$30,000 - $39,999In the 8th YearY12.234281.911422112101001100101111011111000000000 AB101635695BellevilleIL7040$200,000 - $249,999In the 9th YearU13.334346.0501322112011111100101011111111001110000 AQ101961304ValenciaCA4480$200,000 - $249,999In the 8th YearU15.462464.471222112001116100 BT101534116AlbionMI3720$30,000 - $39,999In the 1st YearU1288159.54013001120011111100111111111111000000000 AF102774154MinneapolisMN5120$100,000 - $124,999In the 6th YearY13.148366.451200012201118100001011011110001000100 BJ100899438RochesterNY6840$75,000 - $99,999In the 3rd YearY12.648268.09013001121011131010 AL103225652LockportIL1600$40,000 - $49,99915+ YearsU13.378374.341122012001001100001011011111011010000 AQ101804329WarwickRI6480$175,000 - $199,999In the 10th YearY16.140468.4201321112201115100011011111111001010001 BG101316598AgawamMA8000$50,000 - $74,999In the 12th YearU12.762296.0501311112001115100001011111011011110001 AF100344417Crescent CityFLUnder $20,000In the 6th YearU11.566141.12113220020011071011001011111011001000000 AL100238310IndianapolisIN3480$30,000 - $39,999In the 6th YearU12.330168.0911300113001111100 AA100076969LindonUT6520$100,000 - $124,999In the 5th YearU14.138287.17113001130011141011 AE102881809Battle CreekMI3720$125,000 - $149,999In the 4th YearY12.648328.6211221132011111011011010111011001110000 AK102854739ColumbiaCT3280$100,000 - $124,99915+ YearsU1462344.740122102001105100 BK102377431ZionIL1600$50,000 - $74,999In the 9th YearU11.744213.8201300113001111100001111111111101000001 BP102089869Spring ValleyOH2000$50,000 - $74,999In the 3rd YearU11.834188.16013111120011111010011111111011101111001 AB103665743TariffvilleCT3280$50,000 - 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