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T-Test
Ho: B1 = 0
Ha: B1 =slash 0
P value greater than < .05
F-Test
H0: B1 = B2 = .. Br = 0
HA: B1 = B2 = … Br = 0 or Any combinations (At least one of the models variables is significant) SLASHES
T-Test vs. F-Test
F test is all of the variables, but T-Test you test significance of one variable
F statistics
Compares the model’s prediction to a model that contains no independent variables
H0
None of the independent variables are significant and has no explanatory power
H0 has no predictive relationship between
the x variables and Y in the population
H1
At least one of the coefficients of the independent variables is not equl to zero and has explanatory power
H1 model fits the data better than the
Intercept-only model
If F Significance is less than .05 you will
reject null hypothesis and pick the alternative
If significance F/P-Value <a then
reject the null hypothesis
whats the relationship btw carat weight n diamond price
Positive relationship
Interpretation on Carat weight
For each additional carat weight unit (x) we expect Diamond price (y) to go up 4318.79 dollars on average
95% weight is the
minimum and maximum range for carat weight (2011, 6626). If within this range if you see 0 that variable is not significant, IF you dont see 0 you can conclude the variable is statistically signfiicant.
P value is greater than .05
nonsignificant
as long as 0 is not included in the range its
valid (Value and Interval explanation)
Since the range does not have 0 we reject
null hypothesis and conclude age is statistically significant predictor/variable in predicting _____ // Age is statistically significant predictor for ___ //
Multiple R
Correlation Coefficient
R Square
Coefficient of Determination
Significance F
If entire model is statistically significant, if its less than .05
B0
Intercept
Year
B1
Y ^ =
B0 + B1 x
P val less than .05 and 95% range does not have a 0
//
P val is less than .05
Should not include 0
Interpret Coefficient estimate for slope (Predicting Electric Power demand per year)
For every year increase/additional year, we are expecting electric power demand increases by 10.53 units of the eletrical power (watts) on average.