YHAT= -0.32167 +0.049532 X1 Briefly evaluate the estimated regression equation.
YHAT= -0.32167 +0.049532 X1
Briefly evaluate the estimated regression equation.
Homework Answers
YHAT= - 0.32167 + 0.049532 X1
This estimated regression equation signifies the following.
(a) The intercept value is -0.32167, which means that if the value of X1 (independent variable) is 0, estimated value of YHAT (dependent variable) is -0.32167.
(b) Value of slope coefficient is 0.049532, which means that if X1 (independent variable) increases (decreases) by 1 unit, value of YHAT (dependent variable) will increase (decrease) by 0.049532 unit.
(c) Since no other value (R2, p-value or t-statistic) are provided, we cannot comment on goodness of fit or statistical significance.
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YHAT= -0.32167 +0.049532 X1
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