We have developed a multiple regression model to predict the number of volunteers for a monthly charity event. One of the independent variables is Rain: a binary variable equal to 1 if it rains on the day of the event, and 0 otherwise. In the regression output, the coefficient for Rain is -22. What does that coefficient mean, precisely, with regard to the model’s predictions?
Given that rain =1,if it rans on the day of event and 0 otherwise
coefficient is -22, negative sign shows that there will be 22 less volunteers when binary variable is set to 1
this means that "on an average,there are 22 less number of volunteers for the monthly charity event on rainy day as compared to normal day,when there is no rain"
so, coefficient tells us the numbe of volunteers for the monthly charity event based on the day type, either rain or normal
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