his is summary of the regression set of data for a gas station profit for 108...

his is summary of the regression set of data for a gas station profit for 108 days, interpret the values?

Regression Statistics
Multiple R	0.148500807
R Square	0.02205249
Adjusted R Square	0.01282657
Standard Error	4411.401754

	Coefficients	P-value
Intercept	36341.0736	2.04468E-68
X Variable 1	-21.05107088	0.125072539

Solutions

Expert Solution

For the given table of coefficients, we have here:

The interpretation of the the coefficient of Intercept is given to be 36341.0736, therefore for a 0 value of the independent variable X, the value of the dependent variable here is given as : 36341.0736
Also the slope coefficient - 21.05107088 interpretation is that for a unir increase in the value of independent variable X, it is expected that the dependent variable will get reduced by 21.0510708 units.

The p-value represents the significance of the intercept and the independent variable X.

The p-value for intercept is a very low value and therefore the intercept is significant here.
The p-value for the independent variable X is greater than 0.1, therefore at 10% level of significance, the independent variable is not significant here for the given regression model.

orchestra answered 1 year ago

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