How do you Interpret the meaning of the different coefficients (b0, b1, b2, b3,b4,…bn) in a...

How do you Interpret the meaning of the different coefficients (b0, b1, b2, b3,b4,…bn) in a multiple regression? (slightly different from the interpretation in simple regression)

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Expert Solution

Multiple linear regression is a statistical tool used to predict the outcome of a dependent variabe(response variable), Y, where more than one independent variables(explanatory varaibles),, are present.The Multiple Linear Regression model can be represented by,

Where, is the Y-intercept or constant term. It can also be interpreted as the value of the response variable when all the explanatory values have the value zero. And represents the slope coefficients for each independent variables. That is for unit change in the value of the independent variable there is a change of units in the response variable Y, for i=1,2,...,n. And is the error of the model.

orchestra answered 11 months ago

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