Solution-How do you interpret beta

How do you interpret beta

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Reference no: EM131599500

In a regression problem someone wants to study the effect of fuel additive on mpg of midsize cars in highway driving.

Y = mpg obtained; X = Amount of fuel additive (in fl. oz.) added to gas/gallon.

Based on a dataset with 24 observations a regression model was fitted and this is what we found.

Y-hat = 28.7 + 1.3 X; X-bar = 2.12; r = 0.762; SSE = 1.35

a) How do you interpret beta-0 ( ) in this context?

b) Interpret the slope term (=1.3) in the fitted line in this context.

c) Find Y-bar = average mpg.

d) Find R-Square. Interpret.

e) Find Root MSE and interpret.

f) Predict the mpg when 4 fl. oz./gallon of additive is used.

Reference no: EM131599500

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How do you interpret beta

Reference no: EM131599500

Reference no: EM131599500

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