3. Compute the Regression Analysis and answer the following questions. i. Using

Question

3. Compute the Regression Analysis and answer the following questions.

i. Using the t value, explain if your independent variable (income) is significant.

ii. Using the p value, explain if your independent variable (income) is significant.

iii. Using the 95% confidence interval, explain if your independent variable (income) is significant.

iv. What is the probability of getting a t stat on GPA if the true population coefficient were zero?

SUMMARY OUTPUT Regression Statistics Multiple R 0.186766517 R Square 0.034881732 Adjusted R Square 0.005635724 Standard Error 13042.93129 Observations 35 ANOVA df SS MS F Significance F Regression 1 202899911.5 202899911.5 1.192700619 0.282694732 Residual 33 5613895871 170118056.7 Total 34 5816795782 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 8603.735654 12345.29134 0.696924472 0.490730766 -16512.94843 33720.41974 -16512.9484 33720.41974 Income 4376.043846 4006.968631 1.092108337 0.282694732 -3776.195129 12528.28282 -3776.19513 12528.28282

Explanation / Answer

Answer to the question:

a. Not significant for t value of t=1.09 at df = 34

b. Not significant for p value of .28 at df = 34

c. The 95% estimate gives the SE. Now, Beta and SE are such that t valye is 1.09, indicating pvalue of .28 i.e. insignificant variables

d.28.2% is the possibility ( derived from p value)

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