Question
what's the best way to solve this? Find & practically interpret the correlation coefficient (r) Find & practically interpret the coefficient of determination (R 2
what's the best way to solve this?
- Find & practically interpret the correlation coefficient (r)
- Find & practically interpret the coefficient of determination (R2)
Simple linear regression results:
Dependent Variable: Price Independent Variable: Mileage Price = 41116.768 - 0.17675013 Mileage Sample size: 30 R (correlation coefficient) = -0.46576164 R-sq = 0.2169339 Estimate of error standard deviation: 9248.6584
Parameter estimates:
| Parameter | Estimate | Std. Err. | Alternative | DF | T-Stat | P-value |
|---|---|---|---|---|---|---|
| Intercept | 41116.768 | 2661.5978 | ? 0 | 28 | 15.448152 | |
| Slope | -0.17675013 | 0.06346236 | ? 0 | 28 | -2.7851175 | 0.0095 |
Analysis of variance table for regression model:
| Source | DF | SS | MS | F-stat | P-value |
|---|---|---|---|---|---|
| Model | 1 | 6.6350549e8 | 6.6350549e8 | 7.7568794 | 0.0095 |
| Error | 28 | 2.3950551e9 | 85537682 | ||
| Total | 29 | 3.0585606e9 |
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Statistics The Art And Science Of Learning From Data
Authors: Alan Agresti, Christine A. Franklin
3rd Edition
9780321849281, 321755944, 321849280, 978-0321755940
