13. Examine the following regression equation and answer the questions that follow: Salary = 261,128 +91,569Goals + 16,346Assists - 585,560.Defenseman (2.789) (9.641) (3.301) (5.001) R² = 0.65 Salary = NHL Player's Salary in $ Goals = Number of goals scored by that player Assists = Number of assists made by that player Defenseman = Takes on a value of 1 if player is a defenseman. Otherwise, the value of this variable is zero. The numbers in brackets are t-statistics for the variables above them. (a) What salary will an offensive player make that scores no goals and has no assists? (b) Interpret the meaning of the R² in words.
13. Examine the following regression equation and answer the questions that follow: Salary = 261,128 +91,569Goals + 16,346Assists - 585,560.Defenseman (2.789) (9.641) (3.301) (5.001) R² = 0.65 Salary = NHL Player's Salary in $ Goals = Number of goals scored by that player Assists = Number of assists made by that player Defenseman = Takes on a value of 1 if player is a defenseman. Otherwise, the value of this variable is zero. The numbers in brackets are t-statistics for the variables above them. (a) What salary will an offensive player make that scores no goals and has no assists? (b) Interpret the meaning of the R² in words.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question

Transcribed Image Text:13. Examine the following regression equation and answer the questions that follow:
Salary = 261,128 +91,569Goals + 16,346Assists - 585,560.Defenseman
(2.789) (9.641)
(3.301) (5.001)
R² = 0.65
Salary = NHL Player's Salary in $
Goals Number of goals scored by that player
Assists = Number of assists made by that player
Defenseman = Takes on a value of 1 if player is a defenseman. Otherwise, the value of this
variable is zero.
The numbers in brackets are t-statistics for the variables above them.
(a)
What salary will an offensive player make that scores no goals and has no assists?
Interpret the meaning of the R² in words.
(b)
(c)
What is the increase in salary from scoring one more goal (holding the number of assists
constant)?
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Recommended textbooks for you

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON

The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman