. You should provide all necessary steps to justify your answers. Random guessin
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. You should provide all necessary steps to justify your answers. Random guessing will not count. ·Working in groups is encouraged. However, every student must submit his or her own work. Do not copy others' answers!!! . Make sure that your answer sheet is stapled. Write your name and PSU email ID on the first page. . Late submission will be counted as o. Question 1 Consider the following results of a linear regression: Y | C0ef. Std. Err. t P>Itl 95% Conf. lntervall 055 -5.424424 .0614073 b 24.04 000 -4.005491 -3.399348 x3 1086104 0.090719 1.20 232 0698947 .2871154 cons 906.7392 28.26505 32.08 000 851.1228 962.3555 x12.681508 1.393991 a x2 -3.702419 1. Calculate a (t statistic of z1) and b (Standard error of Ba2). 2. Based on p-value, is the coefficient of zl statistically significant under 95% confi- dence level?Explanation / Answer
(1) a = Coeff.(x1)/Std. Err.(x1) = -2.681508/1.393991 = -1.923619.
b = Coeff.(x2)/t(x2) = -3.702419/-24.04 = 0.1540108.
(2) The p-value is 0.055 and it is greater than the significance level of 0.05. We conclude that the coefficient of x1 is not statistically significant then. This means that the variable x1 is not a significant variable in this model.
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