a. Write the regression equation. b. Discuss the statistical significance of the model using the appropriate regression...

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Statistics

a. Write the regression equation.
b. Discuss the statistical significance of the model using theappropriate regression statistic at a 95% level of confidence.
c. Discuss the statistical significance of the coefficient forthe independent variable using the appropriate regression statisticat a 95% level of confidence.
d. Interpret the coefficient for the independent variable.
e. What percentage of the observed variation in income isexplained by the model?
f. Predict the value of a person’s income using this regressionmodel with 16 years of education.
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.414957
R Square
0.17219
Adjusted R Square
0.171463
Standard Error
2.762937
Observations
1142
ANOVA
df
SS
MS
F
Significance F
Regression
1
1810.183
1810.183
237.1268
9.42E-49
Residual
1140
8702.553
7.633818
Total
1141
10512.74
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Intercept
12.60511
0.120429
104.668
0
12.36882
X Variable 1
3.38E-05
2.19E-06
15.39892
9.42E-49
2.95E-05

Answer & Explanation Solved by verified expert

4.4 Ratings (590 Votes)

a Write the regression equation Answer Here the regressinon equation is Y 1260511 338 105 X b Discuss the statistical significance of the model using the appropriate regression statistic at a 95 level of confidence Answer Here apprpriate statistic is F statistic which is 23713 which is less than Fcritical value and See Answer

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SUMMARY OUTPUT

Regression Statistics
Multiple R	0.414957
R Square	0.17219
Adjusted R Square	0.171463
Standard Error	2.762937
Observations	1142

ANOVA
	df	SS	MS	F	Significance F
Regression	1	1810.183	1810.183	237.1268	9.42E-49
Residual	1140	8702.553	7.633818
Total	1141	10512.74

	Coefficients	Standard Error	t Stat	P-value	Lower 95%
Intercept	12.60511	0.120429	104.668	0	12.36882
X Variable 1	3.38E-05	2.19E-06	15.39892	9.42E-49	2.95E-05