(b) Predict y when x₁ = 10, X₂ = 5, X3 = 1, and x4 = 2. X

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Question
Interpret b3 in this estimated regression equation.
b3 = 3.1 is an estimate of the change in y corresponding to a 1 unit change in X3 when X₁, X21
and X4
b3
= -2.5 is an estimate of the change in y corresponding to a 1 unit change in X1 when
X2, X31
constant.
ха
b3:
= -2.7 is an estimate of the change in y corresponding to a 1 unit change in
constant.
ха
b4 = 3.1 is an estimate of the change in y corresponding to a 1 unit change in
constant.
Interpret b4 in this estimated regression equation.
b4 = -2.5 is an estimate of the change in y corresponding to a 1 unit change in x2
constant.
(b) Predict
when
X1, X3,
b3 = 7.8 is an estimate of the change in y corresponding to a 1 unit change in x2
b3 = 7.8 is an estimate of the change in y corresponding to a 1 unit change in x3 when X₁, X₂,
and
y when
X1
X
when
=
10, X₂ = 5, x3 = 1, and x4 2.
=
X1'
X21
when
when X₁, X3,
and
X11 X21
and
and
X4 are held
X3 are held
X4
are held constant.
X4
and x
b4
and
= 2.7 is an estimate of the change in y corresponding to a 1 unit change in x3 when X₁, X2,
X₂ when X₁,
X4
b4
= 7.8 is an estimate of the change in y corresponding to a 1 unit change in
X31
and x3 are held constant.
4
= 2.7 is an estimate of the change in y corresponding to a 1 unit change in x4 when X₁, X₂, and x3 are held constant.
are held constant.
are held constant.
and X4 are held
X3 are held
are held constant.
Transcribed Image Text:Interpret b3 in this estimated regression equation. b3 = 3.1 is an estimate of the change in y corresponding to a 1 unit change in X3 when X₁, X21 and X4 b3 = -2.5 is an estimate of the change in y corresponding to a 1 unit change in X1 when X2, X31 constant. ха b3: = -2.7 is an estimate of the change in y corresponding to a 1 unit change in constant. ха b4 = 3.1 is an estimate of the change in y corresponding to a 1 unit change in constant. Interpret b4 in this estimated regression equation. b4 = -2.5 is an estimate of the change in y corresponding to a 1 unit change in x2 constant. (b) Predict when X1, X3, b3 = 7.8 is an estimate of the change in y corresponding to a 1 unit change in x2 b3 = 7.8 is an estimate of the change in y corresponding to a 1 unit change in x3 when X₁, X₂, and y when X1 X when = 10, X₂ = 5, x3 = 1, and x4 2. = X1' X21 when when X₁, X3, and X11 X21 and and X4 are held X3 are held X4 are held constant. X4 and x b4 and = 2.7 is an estimate of the change in y corresponding to a 1 unit change in x3 when X₁, X2, X₂ when X₁, X4 b4 = 7.8 is an estimate of the change in y corresponding to a 1 unit change in X31 and x3 are held constant. 4 = 2.7 is an estimate of the change in y corresponding to a 1 unit change in x4 when X₁, X₂, and x3 are held constant. are held constant. are held constant. and X4 are held X3 are held are held constant.
In a regression analysis involving 30 observations, the following estimated regression equation was obtained.
ŷ = 17.9 + 3.1x₁ - 2.5x₂ + 7.8x3 + 2.7x4
(a) Interpret b₁ in this estimated regression equation.
1
b₁ = 2.7 is an estimate of the change in y corresponding to a 1 unit change in x4 when X₁, X₂, and x3 are held constant.
b₁ = 7.8 is an estimate of the change in y corresponding to a 1 unit change in X3 when X₁, X2, and x4 are held
constant.
b₁
1
=
3.1 is an estimate of the change in y corresponding to a 1 unit change in
when
X1
x2
when
b₁ = 3.1 is an estimate of the change in y corresponding to a 1 unit change in
b₁ = -2.5 is an estimate of the change in y corresponding to a 1 unit change in
constant.
and X4
X2, X31
X1, X31
X31
and
X4 are held constant.
and x4 are held
X21
X₁ when
b₂
= 2.7 is an estimate of the change in y corresponding to a 1 unit change in X4
constant.
Interpret b₂ in this estimated regression equation.
b2
= 3.1 is an estimate of the change in y corresponding to a 1 unit change in X1 when X2, X3, and x4 are held constant.
when X₁, X2
and
x2
when
are held constant.
x3
X1, X31
are held
b₂
= -2.5 is an estimate of the change in y corresponding to a 1 unit change in
constant.
b₂ =
= 7.8 is an estimate of the change in y corresponding to a 1 unit change in x3 when X₁, X2, and x4 are held constant.
2² and x4 are held
b₂ = -2.5 is an estimate of the change in y corresponding to a 1 unit change in x₁ when X₂, X3,
constant.
and X4
are held
Transcribed Image Text:In a regression analysis involving 30 observations, the following estimated regression equation was obtained. ŷ = 17.9 + 3.1x₁ - 2.5x₂ + 7.8x3 + 2.7x4 (a) Interpret b₁ in this estimated regression equation. 1 b₁ = 2.7 is an estimate of the change in y corresponding to a 1 unit change in x4 when X₁, X₂, and x3 are held constant. b₁ = 7.8 is an estimate of the change in y corresponding to a 1 unit change in X3 when X₁, X2, and x4 are held constant. b₁ 1 = 3.1 is an estimate of the change in y corresponding to a 1 unit change in when X1 x2 when b₁ = 3.1 is an estimate of the change in y corresponding to a 1 unit change in b₁ = -2.5 is an estimate of the change in y corresponding to a 1 unit change in constant. and X4 X2, X31 X1, X31 X31 and X4 are held constant. and x4 are held X21 X₁ when b₂ = 2.7 is an estimate of the change in y corresponding to a 1 unit change in X4 constant. Interpret b₂ in this estimated regression equation. b2 = 3.1 is an estimate of the change in y corresponding to a 1 unit change in X1 when X2, X3, and x4 are held constant. when X₁, X2 and x2 when are held constant. x3 X1, X31 are held b₂ = -2.5 is an estimate of the change in y corresponding to a 1 unit change in constant. b₂ = = 7.8 is an estimate of the change in y corresponding to a 1 unit change in x3 when X₁, X2, and x4 are held constant. 2² and x4 are held b₂ = -2.5 is an estimate of the change in y corresponding to a 1 unit change in x₁ when X₂, X3, constant. and X4 are held
Expert Solution
Step 1

Here: Given regression equation is 

y^=17.9+3.1X1-2.5X2+7.8X3+2.7X4

We have to interpret b1,b2,b3,b4

And to predict the value of y for the given values of X1, X2, X3, X4

steps

Step by step

Solved in 2 steps

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