Question

Use the Manufacturing database from "Excel Databases.xls" on Blackboard. Use Excel to develop a multiple regression model to predict Cost of Materials by Number of Employees, Number of Production Workers, Value Added by Manufacture, New Capital Expenditures, and End-of-Year Inventories. Use Excel to perform a backward elimination regression analysis at a 5% level of significance. What is the test statistic of the independent variable that is dropped from the linear model in the first step. Write your answer as a number and round to 2 decimal places.

Answer 1

52.64

Step-by-step explanation:

Multiple Regression:

Multiple regression generally explains the relationship between multiple independent or predictor variables and one dependent or criterion variable.

Please kindly check attachment for the step by step solution of the given problem.