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 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 height 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

Variable is significant if p - value is less than 0.05.

So only X3 is not significant as p - value is greater than 0.05.

Holding age and income constant, every inch of height is associated with 2.611 more pound of weight

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