How is the fit of the model associated with the value of Significance F? - the greater the fit, the greater the value of significance F - significance F equals -1 when the fit is good - significance F is close to 1 when the fit is good - the greater the fit, the lower the value of the significance F

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
How is the fit of the model associated with the value of Significance F? - the greater the fit, the greater the value of significance F - significance F equals -1 when the fit is good - significance F is close to 1 when the fit is good - the greater the fit, the lower the value of the significance F
1 SUMMARY OUTPUT
2
3
4 Multiple R
5 RSquare
6 Adjusted R Square
7 Standard Error
8 Observations.
Regression Statistics
9
10 ANOVA
11
12 Regression
13 Residual
14 Total
15
16
17 Intercept
18 Miles per Delivery
19 Time per Delivery
20
21
22
73
0.89621318
0.803198064
0.799890469
4.48707494
df
Coefficients
122
2
119
121
14.45386976
0.461936215
1.892175348
SS
9778.379654
2395.927141
12174.30679
Standard Error
2.533621843
0.096310623
0.116541392
MS
4889.189827
20.13384152
t Stat
5.70482521
4.796316339
16.23607987
F
242.8344249
P-value
8.66617E-08
4.72724E-06
5.80189E-32
Significance F
9.87978E-43
Lower 95%
9.437045466
0.271231562
1.661411752
Upper 95%
19.47069406
0.652640867
2.122938943
Lower 95.0%
9.437045466
0.271231562
1.661411752
Upper 95.0%
19.47069406
0.652640867
2.122938943
Transcribed Image Text:1 SUMMARY OUTPUT 2 3 4 Multiple R 5 RSquare 6 Adjusted R Square 7 Standard Error 8 Observations. Regression Statistics 9 10 ANOVA 11 12 Regression 13 Residual 14 Total 15 16 17 Intercept 18 Miles per Delivery 19 Time per Delivery 20 21 22 73 0.89621318 0.803198064 0.799890469 4.48707494 df Coefficients 122 2 119 121 14.45386976 0.461936215 1.892175348 SS 9778.379654 2395.927141 12174.30679 Standard Error 2.533621843 0.096310623 0.116541392 MS 4889.189827 20.13384152 t Stat 5.70482521 4.796316339 16.23607987 F 242.8344249 P-value 8.66617E-08 4.72724E-06 5.80189E-32 Significance F 9.87978E-43 Lower 95% 9.437045466 0.271231562 1.661411752 Upper 95% 19.47069406 0.652640867 2.122938943 Lower 95.0% 9.437045466 0.271231562 1.661411752 Upper 95.0% 19.47069406 0.652640867 2.122938943
A
SUMMARY OUTPUT
Multiple R
5 RSquare
6 Adjusted R Square
7 Standard Error
8 Observations
9
10 ANOVA
11
12 Regression
13 Residual
14 Total
15
16
17 Intercept
18 Miles per Delivery
19 Time per Delivery
20 Weight per Delivery
21
22
23
24
25
26
27
Jx
Regression Statistics
B
0.896793963
0.804239412
0.799262448
4.494110514
df
Coefficients
122
3
118
121
15.67444877
0.454799927
1.880460816
-0.002260295
C
SS
9791.057335
2383.249459
12174.30679
Standard Error
2.968641478
0.096881262
0.117656896
0.002852916
D
MS
3263.685778
20.19702932
t Stat
5.280007332
4.694405458
15.98258056
-0.792275398
E
F
161.5923672
P-value
5.96789E-07
7.27182E-06
2.66501E-31
0.429790028
Significance F
1.2764E-41
Lower 95%
9.795730433
0.262948651
1.64746813
-0.007909847
G
Upper 95%
21.55316711
0.646651202
2.113453501
0.003389256
H
Lower 95.0%
9.795730433
0.262948651
1.64746813
-0.007909847
Upper 95.0%
21.55316711
0.646651202
2.113453501
0.003389256
J
Transcribed Image Text:A SUMMARY OUTPUT Multiple R 5 RSquare 6 Adjusted R Square 7 Standard Error 8 Observations 9 10 ANOVA 11 12 Regression 13 Residual 14 Total 15 16 17 Intercept 18 Miles per Delivery 19 Time per Delivery 20 Weight per Delivery 21 22 23 24 25 26 27 Jx Regression Statistics B 0.896793963 0.804239412 0.799262448 4.494110514 df Coefficients 122 3 118 121 15.67444877 0.454799927 1.880460816 -0.002260295 C SS 9791.057335 2383.249459 12174.30679 Standard Error 2.968641478 0.096881262 0.117656896 0.002852916 D MS 3263.685778 20.19702932 t Stat 5.280007332 4.694405458 15.98258056 -0.792275398 E F 161.5923672 P-value 5.96789E-07 7.27182E-06 2.66501E-31 0.429790028 Significance F 1.2764E-41 Lower 95% 9.795730433 0.262948651 1.64746813 -0.007909847 G Upper 95% 21.55316711 0.646651202 2.113453501 0.003389256 H Lower 95.0% 9.795730433 0.262948651 1.64746813 -0.007909847 Upper 95.0% 21.55316711 0.646651202 2.113453501 0.003389256 J
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 1 images

Blurred answer
Knowledge Booster
Econometric Model
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education