Consider the regression model of Exercise 12-3 attempting to predict the percent of engineers in the workforce
Question:
(a) Are any of the variables useful for prediction? (Test an appropriate hypothesis).
(b) What percent of the variation in the percent of engineers is accounted for by the model?
(c) What might you do next to create a better model?
Transcribed Image Text:
Estimate 1.051e+00 1.567e-01 9.514e-02 3.910e-02 Std. Error t value Pr(>|t|) 6.708 2.5e-08 *** (Intercept) Venture cap 0.0189 * 2.433 0.286 0.7763 State funding 4.106e-06 1.437e-05 Higher.eD -1.673e-01 2.595e-01 -0.645 0.5223 Residual standard error: 0.3007 on 46 degrees of freedom Multiple R-squared: 0.1622, Adjusted R-squared: 0.1075 F-statistic: 2.968 on 3 and 46 DF,p-value: 0.04157
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a The Fstatistic is 2968 with Pvalue 004157 005 Therefore w...View the full answer
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Related Book For
Applied Statistics And Probability For Engineers
ISBN: 9781118539712
6th Edition
Authors: Douglas C. Montgomery, George C. Runger
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