Question
In: Statistics and Probability
Using the GDP Data do the following: Generate the best fit model (regression) Generate the specific...
Using the GDP Data do the following:
- Generate the best fit model (regression)
- Generate the specific regression form
- Explain any dummy variables created
- Explain any time variables created
- Discuss the significance of all variables
- Generate and discuss the residual plot
-
GDP C I G 822.2 625.7 93.6 110.1 751.5 592.3 62.5 121.3 703.6 574.3 39.2 126.6 611.8 523.0 11.8 122.4 603.3 511.0 17.5 118.0 668.3 546.9 31.6 133.0 728.3 580.6 58.4 137.0 822.5 639.6 74.9 158.9 865.8 663.5 93.6 153.2 835.6 652.6 61.9 164.6 903.5 689.0 79.6 179.7 980.7 724.9 110.9 182.4 1148.8 776.7 135.4 303.0 1360.0 758.3 71.6 711.1 1583.7 779.1 42.3 1059.9 1714.1 801.7 52.2 1195.6 1693.3 851.8 69.0 1041.0 1505.5 956.9 175.0 359.7 1495.1 976.4 168.6 307.1 1560.0 998.1 215.3 328.9 1550.9 1025.3 164.3 367.3 1686.6 1090.9 232.5 367.4 1815.1 1107.1 233.2 500.0 1887.3 1142.4 211.1 605.1 1973.9 1197.2 221.0 647.5 1960.5 1221.9 210.8 602.9 2099.5 1310.4 262.1 580.4 2141.1 1348.8 258.6 580.8 2183.9 1381.8 247.4 606.7 2162.8 1393.0 226.5 626.2 2319.0 1470.7 272.9 661.4 2376.7 1510.8 272.8 661.3 2432.0 1541.2 271.0 693.2 2578.9 1617.3 305.3 735.0 2690.4 1684.0 325.7 752.4 2846.5 1784.8 352.6 767.1 3028.5 1897.6 402.0 791.1 3227.5 2006.1 437.3 862.1 3308.3 2066.2 417.2 927.1
Solutions
Expert Solution
Generate the best fit model (regression)
| SUMMARY OUTPUT | ||||||
| Regression Statistics | ||||||
| Multiple R | 0.99967511 | |||||
| R Square | 0.999350325 | |||||
| Adjusted R Square | 0.999294639 | |||||
| Standard Error | 20.70268274 | |||||
| Observations | 39 | |||||
| ANOVA | ||||||
| df | SS | MS | F | Significance F | ||
| Regression | 3 | 23075070.98 | 7691690.326 | 17946.0361 | 8.0381E-56 | |
| Residual | 35 | 15001.03755 | 428.6010728 | |||
| Total | 38 | 23090072.02 | ||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |
| Intercept | -4.107255539 | 18.0377833 | -0.227702899 | 0.821202195 | -40.72590242 | 32.51139134 |
| C | 0.961003511 | 0.048690324 | 19.73705311 | 1.50263E-20 | 0.862156898 | 1.059850124 |
| I | 1.613966923 | 0.164158805 | 9.831741416 | 1.31922E-11 | 1.280706832 | 1.947227015 |
| G | 0.730060414 | 0.018998844 | 38.42656941 | 3.25576E-30 | 0.691490709 | 0.768630119 |
Generate the specific regression form
Y=-4.107255539 + 0.961003511(C) +1.613966923(I) +0.730060414(G)
Explain any dummy variables created
No dummy variables were created
Explain any time variables created
No time variables were created
Discuss the significance of all variables
p-values of all the variables C, I and G are lower than 0.05. This means all the variables are significant.
orchestra answered 1 year agoRelated Solutions
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