18. A multiple regression model, K = a + bX + cY + dZ, is estimated regression software, which produces the following output: D. If X equals 50, Y equals 200, and Z equals 45, what value do you predict K will take? DEPENDENT VARIABLE: KOBSERVATIONS: 23VARIABLEINTERCEPTXYZR-SQUARE0.5448PARAMETERESTIMATE-220.0-11.3400.38754.26F-RATIO7.58STANDARDERROR68.253.6700.06252.350P-VALUE ON F0.00157T-RATIO-3.22-3.096.201.81P-VALUE0.00450.00600.00010.0857

Answered: A multiple regression model, K = a + bX…

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

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18. A multiple regression model, K = a + bX + cY + dZ, is estimated regression software, which produces the following output: D. If X equals 50, Y equals 200, and Z equals 45, what value do you predict K will take?

DEPENDENT VARIABLE: K
OBSERVATIONS: 23
VARIABLE
INTERCEPT
X
Y
Z
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

Expert Solution

Step 1: Interpret the regression model

K = a + bX + cY + dZ

where K is dependent variable

X, Y and Z are independent variables

b, c and d are parameter estimate of X, Y and Z respectively

a is the intercept

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