4. Suppose you obtain the following estimated regression model:Y₁ = 50.5 +2.05X₁ +5.25 X2 + 4.02 X3 + 0.35IncomeY; represents seasonal gas sales in Los Angeles County (in millions of dollars).© All Rights ReservedX₁ = a dummy variable that is 1 if the season is spring and 0 otherwiseX₂ = a dummy variable that is 1 if the season is summer and 0 otherwiseX3 = a dummy variable that is 1 if the season is fall and 0 otherwiseIncome = the median family income (in 1,000 of dollars) in Los Angeles County.a) Verbally interpret the coefficient of X2.b) Which season is the base case?c) Numerically, in dollars, what will be the difference in sales between spring and fall?

Given information: The regression equation is, Yi=50.5+2.05X1+5.25X2+4.02X3+0.35Income

Answered: 4. Suppose you obtain the following…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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z score z score for each for each value of value of Zzły х х -0.278 0.536 -0.149 -0.089 0.696 -0.062 -1.253 -1 -1.652 2.070 -0.714 -0.928 0.663 2.461 1.473 1.671 0.536 0.371 0.199 -0.089 4 -0.278 0.025 Σ: ỹ = 3.857 S, = 3.078 = 5.207 T= 4.286 s, = 3.200
If the R-squared for a regression model relating the outcome y to an explanatory variable x is 0.9. This implies that there is a positive linear relationship between y and x. True or false?
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4. Our R² implies that lots of stuff, other than health, also affects doctor visits. One such thing is a person's insurance status. The data file includes a third variable that records whether the person had health insurance during 2019. Estimation a regression of the form y = Bo + B₁x1 + B₂x₂ where x₁ is the health status variable from above, but now x₂ records whether the person had insurance. a) Interpret the estimate of B₁ in words. b) Interpret the estimate of B₂ in words. c) Forecast a person's number of doctor visits in 2019 if he/she was in excellent health, but did not have insurance. d) Forecast a person's number of doctor visits in 2019 if he/she was in poor health, and did have insurance. e) The R² for this regression is
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