An economics professor gives a test to gauge the math preparedness of his students. He believes that the performance on the test and the number of hours studied are the main factors. For a group of 60 students, we have: Final = ?0 + ?1(Math) + ?2(Hours) + ?3(Age) + ? These are the Excel results: Coefficients Standard Error t-Stat p-value Intercept 40.55 3.37 12.03 2.83E-17 Math 0.25 0.04 6.06 1.14E-07 Hours 4.85 0.57 8.53 9.06E-12 1. What is the estimate for ?1 and ?2? Interpret these values. 2. What is the sample regression equation? 3. What is the predicted final exam score for a student who has a math score of 70 and studies 4 hours per day?
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The estimate for B1 and B2 can be found in the coefficients row of the Excel results. B1 (Math) is 0.25 and B2 (Hours) is 4.85. This means that for every one-unit increase in the math score, the final exam score is expected to increase by 0.25 points, and for Show more…
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