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The
teengamb
data has 47 rows and 5 columns. The data was obtained from a survey conducted to
study teenage gambling in Britain. This 5 columns in the data are:
sex:
0=male,
1=female
status:
Socioeconomic status score based on parents' occupation
income
: in
pounds per week
verbal
:
verbal score in words out of 12 correctly defined
gamble
:
expenditure on gambling in pounds per year
Use gamble as the response and the other variables as explanatory variables to perform a data analysis. Your data analysis should consist of:
an initial data analysis that explores the numerical and graphical characteristics of the data
an exploration of transformations to improve the fit of the model
diagnostics to check the assumptions of your model
some predictions of future observations for interesting values of the predictors
an interpretation of the meaning of the model (parameters) with respect to the particular area of application
Notice that there is always some freedom in deciding which method to use, in what order to apply them, and how to interpret the results. So, there may not be one clear right answer, and good analysts may come up with different models.