In: Statistics and Probability
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)
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.