# 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?

## Relevant Questions

You have been asked to develop a multiple regression model to predict the traffic fatality rate per 100 million miles in 2007. The data file Vehicle Travel State contains traffic data by state for the year 2007; the ...State whether each of the following statements is true or false. a. The error sum of squares must be smaller than the regression sum of squares. b. Instead of carrying out a multiple regression, we can get the same ...A consulting group offers courses in financial management for executives. At the end of these courses, participants are asked to provide overall ratings of the value of the course. To assess the impact of various factors on ...The Economics Department wishes to develop a multiple regression model to predict student GPA for economics courses. Department faculty have collected data for 112 graduates, which include the variables economics GPA, SAT ...The data file Births Australia shows annual observations on the first confinement resulting in a live birth of the current marriage (Y) and the number of first marriages (for females) in the previous year (X) in Australia. ...Post your question