Question

In regression results. what does the R-squared value tell you? What do the coefficients tell you? What do the P-values tell you? What does a Q-Q plot tell you? What do residuals tell you?

Answer 1

1)R-squared tells you that it  is a statistical measure of how close the data are to the fitted regression line.

2) the coefficient tells you how much the dependent variable is expected to increase when that independent variable increases by one, holding all the other independent variables constant.

3) P.value tells you that it determines the significance of the results.

4) If the data is normally distributed, the points in the QQ-normal plot lie on a straight diagonal line. You can add this line to you QQ plot with the command qqline(x) , where x is the vector of values. The deviations from the straight line are minimal. This indicates normal distribution.

5) A residual plot is a graph that shows the residuals on the vertical axis and the independent variable on the horizontal axis. If the points in a residual plot arerandomly dispersed around the horizontal axis, a linear regression model is appropriate for the data; otherwise, a non-linear model is more appropriate.