Economy Essay

252 words - 2 pages

Assessment 2
1)Estimate regression equation
Log(death) = -68.02613 – 0.76033* wine + 1.43092* beer + 80.10335* liquor
= -68.02613 – 0.76033(- 0.76033) + 1.43092(1.430920 + 80.10335(80.10335)
2) Interpretation
The more people drink wine, the more the death rate will be down of – 0.76033
The more people drink beer, the ...view middle of the document...

10335
3) No, it is not a good model because the significance F which is 0.2457 is higher than the significance level which is 0.05
4) R squared has a value of 0.4749 and means 47.49 % of the variation in death is determined by wine, beer and liquor.
5) The value of adjusted R squared is 0.2124. It means that 21.24% of the variance in death rate is explained by wine , beer and liquor .
6) The standard error of regression 98.35. It means that, there is a difference of 98.35 between the average death rate and the predicted death rate. In other word, predicted death will be off of 98.35.
7) None of the P values is statistically significant because they are greater than level significance.
8)The interval for the variable beer does not fall within the confidence interval which is -1.24418 and 4.1060
9)
10) This model can be improved if the significance level is greater than the significance F.

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