Question

Least Squares Linear Regression of Rent Predictor Variables Constant Size Location Coefficient 1260.79 0.08977 191.625 Std Error 455.277 0.42423 194.769 T 2.77 0.21 0.98 P 0.0080 0.8333 0.3302 VIF 0.0 1.0 1.0 Mean Square Error (MSE) Standard Deviation 458838 677.376 RS Adjusted R AICC PRESS 0.0234 -0.0182 657.62 2.38E+07 DF F 0.56 P 0.5738 2 Source Regression Residual Total MS 257878 458838 SS 515756 2.157E+07 2.208E+07 47 49 45 M M Lack of Fit Pure Error 2.157E+07 0.00000 479230 0.00000 2 Cases Included 50 Missing Cases 0

Is this the best model?

Answer 1

For the model given here, we have the p-value here as 0.5738. As the p-value here is very very high, therefore the test is not significant here and we cannot reject the null hypothesis here. Therefore we dont have sufficient evidence here that the regression model is significant here. The test shows the regression model at an overall level is not significant here.