In: Statistics and Probability
The estimated regression equation for a model involving two independent variables and 60 observations is: y ̂ = 30.17 - 2.5X1 + 0.428X2 Other statistics produced for analysis include: SSR = 1160.6, SST = 2183.4, Sb1 = 0.13, Sb2 = 0.20. Interpret b1 and b2 in this estimated regression equation Predict y when X1 = 50 and X2 = 60. Compute R-square and Adjusted R-Square. Comment on the goodness of fit of the model. Perform a “t” test using the critical value approach for the significance of b1. Use a level of significance of 0.05. Perform a “t” test using the critical value approach for the significance of b2. Use a level of significance of 0.05.