eco test 3
What is the standard error of the estimate?
A measure of the variation around the sample regression line
what does the y-intercept(b0) represent
THE ESTIMATED average y when x=0
What does the slope (b1 ) represent?
The estimated average change in Y per unit change in X
How do you interpret a coefficient of determination, r squared comma equal to 0.91 ?
The interpretation is that 91 % of the variation in the dependent variable can be explained by the variation in the independent variable
Interpret the meaning of the Y-intercept, b 0 .
The Y-intercept, b 0 equals 8 , implies that when the value of X is 0, the mean value of Y is 8.
Interpret the meaning of the slope, b 1 .
The slope, b 1 equals 5 , implies that for each increase of 1 unit in X, the value of Y is expected to increase by 5 units.
what is the standard error of the estimate
a measure of the variation around the sample regression line
Interpret the meaning of the Y-intercept, b 0 , and the slope, b 1 .
a practical interpretation of yintercept bo is not meaningful becasue no operating is likely to be rating zero
if SSR=22, SSt=88, a) compute r^2 b)interpret the meaning
a) .25 b) r^2 * 100% of the variation in the dependent variable can be explained by variation in independent variable
Yi=7+5Xi a) interpret the meaning of the y-intercept(b0) b)interpret the meaning of the slope (b1)
a. the y-interceot bo=7, implies that when the value of x is 0, the mean value is 7 b. the slope b1=5, implies that for each increase in 1 unit in X, the value of Y is expected to increase by 5 units
What conclusion can you reach about predicting DVD revenue from movie gross?
dvd sales 24000000, each il increase box office
nterpret the meaning of the slope, b1, in this problem. Choose the correct answer below
for each increase in one million dollars box office, the dvd revenue is expected to increase by b1 million
in performing a regression analysis involving two numerical variables, what is assumed to be true?
he variation around the line of regression is the same for each X value.
What is the meaning of r squared ?
r *100
pvalue<level of significance
reject
tstat>CV
reject
What does the Y-intercept (b0 ) represent?
the estimated average Y when Xequals 0
what does the slope (b1) represent
the estimated average change in y per unit change in x
how do you interpret a coefficient of determination, r^2, equa; to 0.87
the interpretation is that 87% of the variation in the dependent variable can be explained by the variation in the independent variable
What conclusion can you reach about predicting DVD revenue from movie gross
the mean predicted increase in dvd sales is approxamatley 318000
in performing a regression analysis involving two numerical variables , what is assumed to be true
the variation around the line of regression is the same for each x value