Dollars Spent On Prepared Food 603 41 560 69 623 416 12 323 9 418 78 506 46 552

Determining if there is a relationship between the amount spent on prepared foods and family size and income. We need to know if the data is a good fit and what the exact relationship is between the dependent variable and the independent variables. Perhaps we can use the information to design a new line of prepared frozen foods.

Use the attached spreadsheet and Excel to determine the equation that represents the relationship and explain the goodness of fit. Interpret the results. How might this data be used?