In: Statistics and Probability
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 |
For the given table of coefficients, we have here:
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.