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February 21, 2023February 21, 2023 Discipline: Business
Learning Goal: I’m working on a business question and need guidance to help me learn.

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.

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.

Test the hypothesis that β2=0.05, using a confidence level of 90%. Be sure to provide the reasoning behind your result.

Build a 95% confidence interval for the impact of education on customer rating. Be sure to provide the reasoning for your result.

Build a 95% confidence interval for the impact of being married on customer rating. Be sure to provide the reasoning for your result.

Predict the change in customer rating if a customer’s income increases by $10,000, with no change in age, education, or marital status.

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