# Question: The following model was fitted to a sample of 30

The following model was fitted to a sample of 30 families in order to explain household milk consumption:

yi = b0 + b1x1i + b2x2i + ei

where

yi = milk consumption, in quarts per week

x1i = weekly income, in hundreds of dollars

x2i = family size

The least squares estimates of the regression parameters were as follows:

b0 = -0.025 b1 = 0.052 b2 = 1.14

a. Interpret the estimates b1 and b2.

b. Is it possible to provide a meaningful interpretation of the estimate b0?

yi = b0 + b1x1i + b2x2i + ei

where

yi = milk consumption, in quarts per week

x1i = weekly income, in hundreds of dollars

x2i = family size

The least squares estimates of the regression parameters were as follows:

b0 = -0.025 b1 = 0.052 b2 = 1.14

a. Interpret the estimates b1 and b2.

b. Is it possible to provide a meaningful interpretation of the estimate b0?

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