Linear Regression Assignment You have been provided with a sample dataset contai

Linear Regression Assignment
You have been provided with a sample dataset containing data about billionaires living in the USA. Your task is to perform linear regression analysis on this dataset and create three distinct linear regression models. For each model, you should select the independent and dependent variables, provide reasoning for your choices, explain the results, outline the insights gained, and assess the usefulness of each set of results.
Instructions:
Data Selection: Provide a brief introduction to the dataset, explaining the context of the data. Perform additional research if you need to. State any limitations and constraints.
Model 1: Linear Regression
Select one dependent variable and one independent variable.
Explain why you believe these variables are useful for creating a linear regression model. Consider factors like causality, correlation, and domain knowledge.
Perform linear regression analysis, including calculating the regression equation, the coefficient of determination (R-squared), and any other relevant statistics.
Interpret the results. What do they suggest about the relationship between the variables? What insights can you derive from this model?
Model 2: Linear Regression
Select a different set of dependent and independent variables. These should be distinct from the choices made in Model 1.
Explain your reasons for selecting these variables as part of the second model.
Perform linear regression analysis for this model, similar to Model 1.
Interpret the results and provide insights.
Model 3: Linear Regression
Once again, choose a new set of one dependent variable and one independent variable that has not been used in the previous models.
Justify your variable selection for this third model.
Perform linear regression analysis for this model, following the same steps as in Models 1 and 2.
Interpret the results and highlight the insights gained.
Overall Assessment: Discuss the overall usefulness and relevance of the three linear regression models. Reflect on the insights gained from each model and compare them in terms of their applicability, practicality, and significance.
Submission Guidelines:
Prepare a report summarizing your findings, including all calculations, interpretations, and visualizations. Follow the APA formatting guidelines.