I’m working on a data analytics question and need an explanation to help me learn.3) (20 points): Perform the following Canonical Correlation Analysis on the Young People
Survey. Perform a canonical correlation analysis describing the
relationships between the music and spending variables using the data1. Answer the following questions regarding the canonical correlations.
a. do the null hypothesis that the canonical correlations are all equal to
zero. Give your test-statistic, d.f., and p-value. b. How many significant canonical variates are there? c. Present the first two canonical correlations (Cancor)?
d. What can you conclude from the above analyses? 2. Answer the following questions regarding the canonical variates.
a. Give the formulae for the first canonical variate for the music and spending
variables. b. Give the correlations between the first canonical variate for music and the
spending variables. c. What can you conclude from the above analyses?
Requirements: all the questions needs to be answer | .doc file