The standard error of the regression: is equal to the sum of squared errors minus the total sum of squares. measures the explanatory power of the regression equation and lies between 0 and 1. measures the unexplained variation in the dependent variable. measures the explained variation in the dependent variable. is equal to the slope of the regression equation.
The standard error of the regression: is equal to the sum of squared errors minus the total sum of squares. measures the explanatory power of the regression equation and lies between 0 and 1. measures the unexplained variation in the dependent variable. measures the explained variation in the dependent variable. is equal to the slope of the regression equation.
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correlation:
| medInc $ | HS degree % | |
| med inc | 1 | |
| HS degree % | -0.033158666 | 1 |
regression:
| multiple R | .03315867 |
| R Square | .0010995 |
| adjusted r sq | -.0177477 |
| standard error | 6902.6743 |
| observation | 55 |
| df | ss | ms | f | sig. f | |
| regression | 1 | 2779601.33 | 22779601.33 | .05833749 | .81007522 |
| residual | 53 | 2525286360 | 47646912.5 | ||
| total | 54 | 25280659 |
| coefficients | standard error | t stat | p-value | lower 95% | upper 95% | lower 95.0% | upper 95.0% | |
| interpret | 42273.3497 | 13809.7807 | 3.0611665 | .00345814 | 14574.4373 | 69972.2621 | 14574.4373 | 69972.2621 |
| hs degree | -49.414226 | 204.587042 | -.2415316 | .81007522 | -459.76387 | 360.935414 | -459.76386 | 360.935414 |
a. very briefly interpret the estimated correlation coefficient...the direction and strength of the correlation
b. List and label the dependent variable and independent variable
c. based on regression results if a country's percentage of the population with at least a high school diploma increases by 1 by how much and in one direction does a country's median income change?
d. what is the predicted medinc for an HS degree of 70%
e. what proportion of the variation in medinc is explained by our regression model explained by variation in HS degree?
