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An OLS regression was used to estimate the linear relationship between family income per week and...

An OLS regression was used to estimate the linear relationship between family income per week and the corresponding average percentage spending (dependent variable) per week. A 95% confidence interval was found to be ranging from 205 to 338. In your words, interpret this confidence level estimate.

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A 95% confidence interval [ 205, 338 ] shows that the estimated value of the regression model of Average percentage spending on family income per week, lies between the values 205 and 388 which means there is no significant difference between the estimate of the sample mean and population mean. The range of the confidence interval shows the acceptance region for the null hypothesis. the estimate out of the range will fall in the rejection region of the null hypothesis

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