Question
I need help to understand if my answer for homework is correct. The following is a multiple linear regression model:Y^=0^+1^X1+2^X2+ei A portion of the computer
I need help to understand if my answer for homework is correct.
The following is a multiple linear regression model:Y^=0^+1^X1+2^X2+ei
A portion of the computer analysis obtained from Microsoft Excel 2010 is shown below:
SUMMARY OUTPUT
Regression Statistics
R-Square 0.988
Regression Standard Error 12.420
Observations 52
Coeff StdError tStat
Intercept 286.42 9.66
X1 -0.31 0.06
X2 0.000067 0.00007
Referring to the table above, what is the interpretation of theR2
Answer:
R^2 is very close to 1 where R^2 f 1 indicates a perfect fit.R^2 of .988 indicates the better fitted linear regression model is a linear relationship exist between Y and a set of X's
Find the sum of squared residuals,SSE,and the sum of the squared difference between the observed dependent variable and its average,SST
Answer:
SSE201.9196317
SST16826.63597
SSR16624.71634
Calculate the confidence interval for the slopeB2at the 95% confidence level
Answer:
lower limit B2: -0.000074
upper limit B2: 0.000208
Calculate thet-stat for the slopeB1
Answer:
95% confidence interval for B2 is-0.000074 < = B2 < = 0.000208
Are these two slopes statistically significant at 5% significance level
Answer:
the slope respective to X2 variable in the model is statistically significant at 5% significance levelits sign is positive, when X2 increases in its value then the dependent variable Y will increase in value
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