Question
After running multiple regression on homicide rate model using Census and police data.The data sets are city by city records. The output shows an equation:
After running multiple regression on homicide rate model using Census and police data.The data sets are city by city records.
The output shows an equation:
Homicide Rate = -1.50 + 0.8*Poverty Rate - 0.4*Number of General Hospitals + 12.3*Number of Bars - 4.7*Number of Police Officers per 100 residents + 6.3*Population Density per square miles
where homicide rate is per 100,000 people, and poverty rate is number of households below poverty level per 100 households.
All coefficients turned out statitically significant at 95% confidence level.
How do you interpret the equation? Be mindful of and clearly state the "unit of analysis" as you interpret the equation.Also, make sure you address every figure in the equation, including the intercept (or constant).
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