8. Use the following information from a multiple regression analysis. n = 15 b1 = 5...
8. Use the following information from a multiple regression analysis.
n = 15 b1 = 5 b2 = 6 Sb1 = 1.4 Sb2 = 0.8
a. Which variable has the largest slope, in units of a t statistic?
The variable _____ has the largest slope, with tSTAT = _____
b. Construct a 90% confidence interval estimate of the population slope, β1.
c. Begin by determining whether X1 makes a significant contribution to the regression model. Determine the null and alternative hypotheses.
Compute the test statistic.
Determine the p-value.
Reach a conclusion
Now test whether X2 makes a significant contribution to the regression model. Determine the null and alternative hypotheses.
Compute the test statistic.
Determine the p-value.
Reach a conclusion.
On the basis of these results, which of the independent variables should be included in this model?
Homework Answers
![Solution from given data n215,: 5, b2 = G, Sbi : 141362:08 . The variable X has the largest slope. Ho] 90% Confidence inter](http://img.homeworklib.com/questions/02d96d60-a3ad-11eb-8e8a-45f07808691a.png?x-oss-process=image/resize,w_560)
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8. Use the following information from a multiple regression
analysis.
n = 15 b1 = 5...
A regression analysis is performed using data for 36 single-family homes to predict appraised value (in...
A regression analysis is performed using data for 36
single-family homes to predict appraised value (in thousands of
dollars) based on land area of the property (in acres), X1i, and
age (in years), X2i, in month i. Use the results below to
complete parts (a) and (b) below.
Variable
Coefficient
Standard Error
t Statistic
p-value
Intercept
392.60372
51.68272
7.60
0.0000
Area, X1
451.43475
100.48497
4.49
0.0001
Age,X2
−2.17162
0.79077
−2.75
0.0097
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In a multiple regression analysis, two independent variables are considered, and the sample size is 26....
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The production of wine is a multi-billion-dollar worldwide industry. In an attempt to develop a model...
The production of wine is a multi-billion-dollar worldwide
industry. In an attempt to develop a model of wine quality as
judged by wine experts, data was collected from red wine variants
from a particular type of foreign wine. A multiple linear
regression model was developed from a sample of 45 wines. The model
was used to predict wine quality, measured on a scale from 0
(very bad) to 10 (excellent) based on the alcohol content (%) and
the amount of...
A regression analysis is performed using data for 36
single-family homes to predict appraised value (in thousands of
dollars) based on land area of the property (in acres), X1i, and
age (in years), X2i, in month i. Use the results below to
complete parts (a) and (b) below.
Variable
Coefficient
Standard Error
t Statistic
p-value
Intercept
392.60372
51.68272
7.60
0.0000
Area, X1
451.43475
100.48497
4.49
0.0001
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−2.17162
0.79077
−2.75
0.0097
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industry. In an attempt to develop a model of wine quality as
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was used to predict wine quality, measured on a scale from 0
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