Suppose you fit the first-order modely = ? 0 + ? 1 x 1 + ?

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Problem 7E Chapter 12

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 7E

Suppose you fit the first-order model

y = β 0 + β 1 x 1 + β 2 x 2 + β 3 x 3 + β 4 x 4 + β 5 x 5 + ε

to n = 30 data points and obtain

SSE = .33 R2 = .92

a. Do the values of SSE and R2 suggest that the model provides a good fit to the data? Explain.

b. Is the model of any use in predicting y? Test the null hypothesis H0: β1 = β2 = β3 = β4 = β5 = 0 against the alternative hypothesis Ha: At least one of the parameters β1, β2, …., β5 is nonzero. Use α = .05.

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Chapter 12, Problem 7E is Solved
Textbook: Statistics for Business and Economics
Edition: 12th
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

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