With the regression information provided below, please answer the following: Wha

Question

With the regression information provided below, please answer the following:

What is the estimated equation of the regression?

Interpret each of the regression coefficients.

Using the 4 specification criteria should you use HP or invHP in the model and why?

regress SPEED TOP WEIGHT invHP 30 28.28 0.0000 0.7654 0.7383 17.012 Source df MS Number of obs F (3, 26) Model Residual 24550.4103 7524.28971 3 8183.4701 Prob > E 26 289.395758 R-squared Adj R-squared = Total 32074.7 29 1106.02414 Root MSE SPEED Coef. Std f. Std. Err (95% Conf. Interval] TOP WEIGHT invHE cons -1.25 0.222 -2.46 0.021 -7.62 0.000 11.25 0. 000 8.499921 -.046579-.0041682 -30178.83 -17360.49 352.9789 -35.00827 -13.25418 10.58321 .0103163 -23769.66 3118.014 298.4637 26.52128 -.0253736 243.9484

Explanation / Answer

1) Estimated regression equation is :

SPEED = 298.4637 - 13.2542 * TOP - 0.0254 * WEIGHT - 23769.66 * invHP

2) Interpretation of Coefficient of TOP:

If the value of WEIGHT and invHP are kept fixed, then for one unit increase (decrease) in the value of TOP, the SPPED will decrease (increase) by 13.2542 unit.

Interpretation of Coefficient of WEIGHT:

If the value of TOP and invHP are kept fixed, then for one unit increase (decrease) in the value of WEIGHT, the SPPED will decrease (increase) by 0.0254 unit.

Interpretation of Coefficient of invHP:

If the value of WEIGHT and TOP are kept fixed, then for one unit increase (decrease) in the value of invHP, the SPPED will decrease (increase) by 23769.66 unit.

3) p-value = P > |t| = 0.000 for invHP, which is less than 0.01. So, we conclude that, the variable HP or invHP is significant in the model.

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