Econ3300 - Two experts provided subjective lists of Nine...

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Two experts provided subjective lists of Nine school districts that they think are among the best in the country. For each school district, the average class size, the combined SAT score and the percentage of students who arrived at a four-year college were provided. The following ANOVA table contains information that was generated using the data provided by these experts on possible linear relationship between the set of variables. Fill the missing information in the table and answer the questions (a) and (b). ANOVA df SS MS F Regression 1 712.64 712.6 4 Residual 7 98.42*7=688. 94 98.42 7.24 Total 8 a) What is the value of R-square and adjusted R-square? Interpret the meaning of adjusted R- square. Solution: R- Square is given by = 1- (688.94/ 1401.58) = 1- .49 = .51 Adjusted R- Square is given by R2 = 1- (1 - R2 )((n - 1)/(n - k - 1)) where: R2 = Coefficient of Determination _ R2 = Adjusted Coefficient of Determination n = number of observations k = number of Independent Variables Adj R2 = 1- (1-.51)(8/7) = 1 - .49(1.15) = 1 - .56 = .44
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Econ3300 - Two experts provided subjective lists of Nine...

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