Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

When performing the regression analysis, it is evident that the only significant variable is the number of top 10 finishes, with a P-value of 0.0014,

When performing the regression analysis, it is evident that the only significant variable is the number of top 10 finishes, with a P-value of 0.0014, which is below the 0.05 threshold. Additionally, the R-squared value of 0.8204 differs from the model that only includes top 10 finishes, which has an R-squared of 0.0860. R-squared alone cannot determine the correct model; it merely indicates the strength of the relationship between the dependent variable and the independent variables. We can conclude that the only statistically significant variable for predicting winnings is the number of top 10 finishes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Mathematics questions