Consider the following regression based on hypothetical data. We hypothesize tha

Question

Consider the following regression based on hypothetical data. We hypothesize that age, height, and income affect people’s weight. So we run a regression analysis of data from a random sample of 25 people, with weight (in pounds) as the dependent variable and age (x variable 1, in years), height (x variable 2, in inches), and income (x variable 3, in $1,000) as the independent variables. Here is part of the regression output from Excel:

Coefficients

Standard Error

t Stat

P-value

Intercept

-52.517933

51.96292822

-1.01068

0.323673

X Variable 1

1.02565561

0.471929364

2.173324

0.041343

X Variable 2

2.6110426

0.878492569

2.972185

0.007269

X Variable 3

-0.9722392

1.371767312

-0.70875

0.486274

Based on these regression results, which of the following statement about the effect of age on weight is correct, using =5%?

Coefficients

Standard Error

t Stat

P-value

Intercept

-52.517933

51.96292822

-1.01068

0.323673

X Variable 1

1.02565561

0.471929364

2.173324

0.041343

X Variable 2

2.6110426

0.878492569

2.972185

0.007269

X Variable 3

-0.9722392

1.371767312

-0.70875

0.486274

Explanation / Answer

The following statement about the effect of age on weight is correct, using a=5%

Holding height and income constant, every year of age is associated with 1.026 more pound of weight.

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