Question

Regression Analysis

Question: is there any relationship between the economic growth rate(GDP) and unemployment rate(Unemp_Rates), Poverty (Poverty_Rates), Technological and science workforce(ech_Scien_Wforce), high school graduate (HS_Grad_Rates) , and housing cost( Housing_Cost)

This is a regression analysis result :

Call:
lm(formula = GDP_Rate ~ Unemp_Rates + Poverty_Rates + Tech_Scien_Wforce + HS_Grad_Rates + Housing_Cost)

Residuals:
Min 1Q Median 3Q Max
-1.5562 -0.3988 -0.1126 0.4971 1.6748

Coefficients:
Estimate Std. Error t value Pr(>|t|)   
(Intercept) 15.822486 5.424619 2.917 0.00555 **
Unemp_Rates -0.053450 0.136427 -0.392 0.69711   
Poverty_Rates -10.707545 6.086382 -1.759 0.08549 .
Tech_Scien_Wforce 0.001064 0.007173 0.148 0.88277   
HS_Grad_Rates -10.839773 5.057179 -2.143 0.03764 *
Housing_Cost -0.006099 0.002489 -2.451 0.01831 *
---
Signif. codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1

Residual standard error: 0.6987 on 44 degrees of freedom
Multiple R-squared: 0.1701,   Adjusted R-squared: 0.07584
F-statistic: 1.804 on 5 and 44 DF, p-value: 0.1318

Answer 1

There do not exists a relationship between the economic growth rate(GDP) and unemployment rate(Unemp_Rates), Poverty (Poverty_Rates), Technological and science workforce(ech_Scien_Wforce), high school graduate (HS_Grad_Rates) , and housing cost( Housing_Cost) because the p-value obtained in the output of the regression model is 0.1318 which is greater than the level of significance if considered 5% or 0.05.