Evaluate the significance of individual predictors. You will use the given output to perform individual t-tests for
Question:
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Evaluate the significance of individual predictors. You will use the given output to perform individual t-tests for each predictor variable. Address the following items:
1. Is at least one of the two variables (weight and horsepower) significant in the model? Run the overall F-test and provide your interpretation at 5% level of significance. Include the following in your analysis:
- Define the null and alternative hypothesis in mathematical terms and in words.
- Report the level of significance.
- Include the test statistic and the P-value. (Hint: F-Statistic and Prob (F-Statistic) in the output).
- Provide your conclusion and interpretation of the test. Should the null hypothesis be rejected? Why or why not?
2. What is the slope coefficient for the weight variable? Is this coefficient significant at 5% level of significance (alpha=0.05)? (Hint: Check the P-value, P>|t|, for weight in Python output. Recall that this is the individual t-test for the beta parameter.)
3. What is the slope coefficient for the horsepower variable? Is this coefficient significant at 5% level of significance (alpha=0.05)? (Hint: Check the P-value, P>|t|, for horsepower in Python output. Recall that this is the individual t-test for the beta parameter.)
4. What is the purpose of performing individual t-tests after carrying out the overall F-test? What are the differences in the interpretation of the two tests?
5. What is the coefficient of determination of your multiple regression model? Provide appropriate interpretation of this statistic.
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