Question

interpret each coefficient estimate and discuss its significance using α = 0.01, α = 0.05 and α = 0.10. Use the concepts of strict and weak significance too

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.820140129
R Square	0.672629832
Adjusted R Square	0.658699186
Standard Error	235.4076294
Observations	50
ANOVA
	df	SS	MS	F	Significance F
Regression	2	5351505.158	2675752.58	48.2841827	4.0125E-12
Residual	47	2604587.342	55416.752
Total	49	7956092.5
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	614.4212872	112.5236612	5.46037412	1.7469E-06	388.052879	840.789695	388.052879	840.789695
age	-6.614685559	3.171208277	-2.0858566	0.0424457	-12.994334	-0.2350374	-12.994334	-0.2350374
features	119.4123809	15.91528909	7.50299792	1.4181E-09	87.394949	151.429813	87.394949	151.429813

Answer 1

AGE:

p value = 0.0424457

α = 0.01

P value > α Do not reject

Not significant relatioship

α = 0.05

P value < α reject

significant relatioship but weak

α = 0.05

P value < α reject

significant relatioship but moderate

features:

P value = 1.4181E-09 = 0.00000

α = 0.01

P value < α reject

significant relatioship and strong

α = 0.05

P value < α reject

significant relatioship and strong

α = 0.1

P value < α reject

significant relatioship and strong

Hence for particular alpha both coefficient are significant but clearly features is much more significant then age in determining the variation in response variable.

F value = 0125E-12

Hence model overall is significant

Thanks in advance!

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