A multiple regression model, K = a + bX + cY + dZ, is estimated regression software, which produces the following output: a. Are the estimates of a, b, c, and d statistically significant at the 1 percent significance level? b. How much of the total variation is explained by this regression equation? c. Is the overall regression equation statistically significant at the 1 percent level of significance? d. If X equals 50, Y equals 200, and Z equals 45, what value do you predict K will take?
A multiple regression model, K = a + bX + cY + dZ, is estimated regression software, which produces the following output: a. Are the estimates of a, b, c, and d statistically significant at the 1 percent significance level? b. How much of the total variation is explained by this regression equation? c. Is the overall regression equation statistically significant at the 1 percent level of significance? d. If X equals 50, Y equals 200, and Z equals 45, what value do you predict K will take?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
- A multiple regression model, K = a + bX + cY + dZ, is estimated regression software, which produces the following output:
a. Are the estimates of a, b, c, and d statistically significant at the 1 percent significance level?
b. How much of the total variation is explained by this regression equation?
c. Is the overall regression equation statistically significant at the 1 percent level of significance?
d. If X equals 50, Y equals 200, and Z equals 45, what value do you predict K will take?
![DEPENDENT VARIABLE: K
23
OBSERVATIONS:
VARIABLE
INTERCEPT
X
<> N
Y
R-SQUARE
0.5448
PARAMETER
ESTIMATE
-220.0
-11.340
0.3875
4.26
F-RATIO
7.58
STANDARD
ERROR
68.25
3.670
0.0625
2.350
P-VALUE ON F
0.00157
T-RATIO
-3.22
-3.09
6.20
1.81
P-VALUE
0.0045
0.0060
0.0001
0.0857](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd7b5ed6-a0e5-4e72-852f-588ea0c73f46%2F2a2edf18-0f23-4f2c-b408-0db8b84fc49e%2Fphfihne_processed.png&w=3840&q=75)
Transcribed Image Text:DEPENDENT VARIABLE: K
23
OBSERVATIONS:
VARIABLE
INTERCEPT
X
<> N
Y
R-SQUARE
0.5448
PARAMETER
ESTIMATE
-220.0
-11.340
0.3875
4.26
F-RATIO
7.58
STANDARD
ERROR
68.25
3.670
0.0625
2.350
P-VALUE ON F
0.00157
T-RATIO
-3.22
-3.09
6.20
1.81
P-VALUE
0.0045
0.0060
0.0001
0.0857
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