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The following is the estimation results for a multiple linear regression model: SUMMARY OUTPUT             Regression...

The following is the estimation results for a multiple linear regression model:

SUMMARY OUTPUT

            Regression Statistics

R-Square                                                       0.558

Regression Standard Error (S)                  863.100

Observations                                               35

                               Coeff        StdError          t-Stat   

Intercept               1283.000    352.000           3.65   

X1                             25.228        8.631                      

X2                               0.861        0.372          

Questions:

  1. Interpret each coefficient.

Solutions

Expert Solution

solution:

given data:

Interpret each coefficient:-

is the intercept coefficient and thus is the value of the dependent variable Y, when both the independent variables are equal to zero.

The estimate of is 1283 and thus is the approximate value of Y when both X1 and X2 are zero.

is the slope coefficient of the independent variable X1 and thus represents the approximate change in the value of Y when X1 is increased by 1 unit keeping X2 unchanged.

The estimate of is 25.228 and thus is the approximate increase in the value of Y when X1 is increased by 1 unit when X2 is unchanged.

is the slope coefficient of the independent variable X2 and thus represents the approximate change in the value of Y when X2 is increased by 1 unit keeping X1 unchanged.

The estimate of is 0.861 and thus is the approximate increase in the value of Y when X2 is increased by 1 unit when X1 is unchanged.

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orchestra answered 1 year ago
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