Consider the regression equation In Y₁ = 3.89 +0.5X11 +0.3X2i. a. Predict the value of Y when X₁ = 7.1 and X₂ = 4.9. Interpret the meaning of the regression coefficients 100-b and 100.h
Consider the regression equation In Y₁ = 3.89 +0.5X11 +0.3X2i. a. Predict the value of Y when X₁ = 7.1 and X₂ = 4.9. Interpret the meaning of the regression coefficients 100-b and 100.h
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:A. Holding constant the other variables, for every one unit increase in \( X_1 \) or \( X_2 \), the value of \( Y \) increases by \( 100 \cdot b_1 \) or \( 100 \cdot b_2 \) percent, respectively.
B. For every decrease of one unit of ln \( Y \), holding \( b_0 \) constant, the estimated change in \( X_1 \) or \( X_2 \) is \( 100 \cdot b_1 \) or \( 100 \cdot b_2 \) units, respectively.
C. Holding constant the other variables, for every one percent increase in \( X_1 \) or \( X_2 \), the value of \( Y \) increases by \( b_1 \) or \( b_2 \) units, respectively.
D. Holding constant the other variables, for every one percent increase in \( X_1 \) or \( X_2 \), the value of \( Y \) increases by \( b_2 \) or \( b_1 \) percent, respectively.
![**Regression Analysis Overview**
This section will explore a given regression equation and interpret its components.
**Equation:**
\[
\ln \hat{Y}_i = 3.89 + 0.5X_{1i} + 0.3X_{2i}
\]
**Tasks:**
1. **Predictive Analysis**
- **Objective:** Calculate the predicted value of \( Y \) when \( X_1 = 7.1 \) and \( X_2 = 4.9 \).
- **Procedure:** Substitute these values into the regression equation to solve for \( \ln \hat{Y}_i \), then exponentiate the result to obtain \( \hat{Y}_i \).
2. **Coefficient Interpretation**
- **Objective:** Interpret the scaled regression coefficients \( 100 \cdot b_1 \) and \( 100 \cdot b_2 \).
- **Explanation:** Understand what a 1-unit increase in \( X_1 \) and \( X_2 \) implies in percentage terms for \( Y \), assuming the other variable is held constant.
**Note:** This section covers predictive analysis using a logarithmic regression model and provides insights into interpreting regression coefficients in a multiplicative context.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde74f136-44f2-4a02-80e8-fc7d1b4c57d8%2Fbbb9e46f-d9ff-4259-a875-0f47c30641b2%2F5mvcy_processed.png&w=3840&q=75)
Transcribed Image Text:**Regression Analysis Overview**
This section will explore a given regression equation and interpret its components.
**Equation:**
\[
\ln \hat{Y}_i = 3.89 + 0.5X_{1i} + 0.3X_{2i}
\]
**Tasks:**
1. **Predictive Analysis**
- **Objective:** Calculate the predicted value of \( Y \) when \( X_1 = 7.1 \) and \( X_2 = 4.9 \).
- **Procedure:** Substitute these values into the regression equation to solve for \( \ln \hat{Y}_i \), then exponentiate the result to obtain \( \hat{Y}_i \).
2. **Coefficient Interpretation**
- **Objective:** Interpret the scaled regression coefficients \( 100 \cdot b_1 \) and \( 100 \cdot b_2 \).
- **Explanation:** Understand what a 1-unit increase in \( X_1 \) and \( X_2 \) implies in percentage terms for \( Y \), assuming the other variable is held constant.
**Note:** This section covers predictive analysis using a logarithmic regression model and provides insights into interpreting regression coefficients in a multiplicative context.
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 4 steps with 7 images

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