SPEND Estimated Household Spending (monthly from Jan 2019)

Scenario. The dataset Tasmaniaxls contains data on number the number of people employed in Tasmania and also records the estimated household spending.

Summarize the characteristics and patterns for the number of people employed in Tasmania Consider describing its distribution, compare it over time, provide summary statistics (can me graphs).

Summarize the characteristics and patterns for the estimated household spending in Tasmania. Consider describing its distribution, compare it over time, provide summary statistics (can me graphs). Then, your task is to develop a linear model that can predict the household spending based on the number of people employed.

Prepare a report for the State Government. Your report should be structured to have • a title, • an aim, • the main findings that you have discovered based on the data analysis and the linear regression model you suggested using for prediction of employment supporting graphs (at least one). a discussion of how accurate you expect the statistics and model to be at making predictions (this should include common summary statistics such the standard emu., the g value (coefficient of determination and the correlation coefficient). Are thew any points of concern that should be taken into accountwhen using the model?