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Analysis of Household Spending on Tobacco and Alcohol: Linear Regression and Statistical Interpretation

This paper uses linear regression to analyze household spending on tobacco and alcohol and its economic implications.

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    1 Analysis of Household Spending on Tobacco and Alcohol: Linear Regression and Statistical Interpretation School of Math/Stat Data from a British government survey of household spending may be used to examine the relationship between household spending on tobacco products and alcoholic beverages. You can find this data on the Canvas website . The dataset is called “tobacco. xls ”. 1. (2 points) Tobacco spending is the explanatory variable, and alcohol spending is the response variable. What is the equation of the least - squares regression line? The equation of the regression line is, Alcohol = 3.088+0.836* tobacco 2. (4 points) Show a scatterplot of the data. Include the least square regression line on the graph. Describe the form, direction and strength of your data. The obtained scatter plot is given below,

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