Given the following regression result, answer the question a) to d)
Regression analysis: Tourism ($ bill) versus visitors (mill)
The regression equation is
Tourism ($ bill) = 21.5 + 0.295 Visitors (mill)
(3.462) (0.07917)
Standard errors are in parentheses.
a. What is the dependent variable and what is the independent variable in this linear regression model?
b. How much is the intercept (b0) and the slope (b1) in the above?
c. How much do you interpret the above linear model?
d. Based on the above data, draw a scatter plot
Given the following regression result, answer the question a) to d)
Regression analysis: Tourism ($ bill) versus visitors (mill)
The regression equation is
Tourism ($ bill) = 21.5 + 0.295 Visitors (mill)
(3.462) (0.07917)
Standard errors are in parentheses.
a. What is the dependent variable and what is the independent variable in this linear regression model?
b. How much is the intercept (b0) and the slope (b1) in the above?
c. How much do you interpret the above linear model?
d. Based on the above data, draw a scatter plot
Related textbook solutions
Related questions
correlation:
| medInc $ | HS degree % | |
| med inc | 1 | |
| HS degree % | -0.033158666 | 1 |
regression:
| multiple R | .03315867 |
| R Square | .0010995 |
| adjusted r sq | -.0177477 |
| standard error | 6902.6743 |
| observation | 55 |
| df | ss | ms | f | sig. f | |
| regression | 1 | 2779601.33 | 22779601.33 | .05833749 | .81007522 |
| residual | 53 | 2525286360 | 47646912.5 | ||
| total | 54 | 25280659 |
| coefficients | standard error | t stat | p-value | lower 95% | upper 95% | lower 95.0% | upper 95.0% | |
| interpret | 42273.3497 | 13809.7807 | 3.0611665 | .00345814 | 14574.4373 | 69972.2621 | 14574.4373 | 69972.2621 |
| hs degree | -49.414226 | 204.587042 | -.2415316 | .81007522 | -459.76387 | 360.935414 | -459.76386 | 360.935414 |
a. very briefly interpret the estimated correlation coefficient...the direction and strength of the correlation
b. List and label the dependent variable and independent variable
c. based on regression results if a country's percentage of the population with at least a high school diploma increases by 1 by how much and in one direction does a country's median income change?
d. what is the predicted medinc for an HS degree of 70%
e. what proportion of the variation in medinc is explained by our regression model explained by variation in HS degree?
. Suppose Y is related to R and S in the following nonlinear way:
Y= aRáµSá¶
a. How can this nonlinear equation be transformed into a linear form that can ve analyzed using multiple regression analysis.
Sixty-three observations are used to obtain the following regression results:
| DEPENDENT VARIABLE: LNY | R-SQUARE | F-RATIO | P-VALUE ON F | |
| OBSERVATION: 63 | 0.8151 | 132.22 | 0.0001 | |
| VARIABLE | PARAMETER ESTIMATE | STANDARD ERROR | T-RATIO | P-VALUE |
| INTERCEPT | -1.386 | 0.83 | -1.67 | 0.1002 |
| LNR | 0.452 | 0.175 | 2.58 | 0.0123 |
| LNS | 0.30 | 0.098 | 3.06 | 0.0033 |
b. Test each estimated coefficient for statistical significance at the 5 percent level of significance. What are the exact significance levels for each of the estimated coefficients?
c. Test the overall equation for statistical significance at the 5 percent level of significance. Interpret the p-value of the F-statistic.
d. How well does this nonlinear model fit the data?
e. Using the estimated value of the intercept, compute an estimate of a.
f. If R = 200 and S = 1,500, compute the expected value of Y.
g. What is the estimated elasticity of R? Of S?
