ec-51 - 1 April 22, 2009 It is E370 Time! Announcements W...

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1 April 22, 2009 It is E370 Time!!! Announcements WarmUps Questions Today’s Goals: You should be able to T accurately define and use indicator variables in a regression. T accurately interpret the coefficient on an indicator variable. T explain how simple regression is related to multiple regression. T interpret regression output for a multiple regression. T accurately interpret Adjusted R 2 . Next Time~~Tests and Predictions Announcements T Homework Manager Question #3: Required part ‘a’: Eyeball the data and estimate a regression line. T In#7, there is a column in the table for requirement three asking you to calculate the VIF, something we do not teach. The values to enter in this column are posted. T My advice is to do all calculations using Excel--without any rounding--and you will have no difficulty getting your answers accepted. Y' = - 260 + 3867X 0 200 400 600 800 1000 1200 0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 Carat Weight Price ($)
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2 A regression of price (in dollars) on carat weight (in grams) of 48 diamonds from
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ec-51 - 1 April 22, 2009 It is E370 Time! Announcements W...

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