The following estimated regression equation is based on 30 observations. ŷ = 18.5 +4x1- 2.4x2 + 7.8x3+2.9z4 The values of SST and SSR are 1,806 and 1,759, respectively. a. Compute R (to 3 decimals). b. Compute R (to 3 decimals). c. Comment on the goodness of fit. The estimated regression equation provided an excellent fit

The following estimated regression equation is based on 30 observations. ŷ = 18.5 +4x1- 2.4x2 + 7.8x3+2.9z4 The values of SST and SSR are 1,806 and 1,759, respectively. a. Compute R (to 3 decimals). b. Compute R (to 3 decimals). c. Comment on the goodness of fit. The estimated regression equation provided an excellent fit

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...

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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

The following estimated regression equation is based on 30 observations.
ŷ = 18.5 +4x1- 2.4x2 + 7.8x3+2.9z4
The values of SST and SSR are 1,806 and 1,759, respectively.
a. Compute R (to 3 decimals).
b. Compute R (to 3 decimals).
c. Comment on the goodness of fit.
The estimated regression equation provided an excellent fit

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