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.

Lily Green

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1Analysis of Household Spending on Tobacco and Alcohol: LinearRegression and Statistical InterpretationSchool of Math/StatData from a British government survey of household spending may be used to examinethe relationship between household spending on tobacco products and alcoholicbeverages.You can find this data on theCanvaswebsite.The dataset is called “tobacco.xls”.1.(2 points) Tobacco spending is the explanatory variable, and alcohol spending isthe response variable.What is the equation of the least-squares regression line?The equation of the regression line is,Alcohol = 3.088+0.836* tobacco2.(4points) Show a scatterplot of the data. Include the least square regression lineon the graph.Describe the form, direction and strength of your data.The obtained scatter plot is given below,

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