Question: estimate the following multiple regression model log(___) = 0 + 1log(___) + 2__ + Report your regression results in a sample regression function. Interpret the
estimate the following multiple regression model log(___) = 0 + 1log(___) + 2__ + Report your regression results in a sample regression function. Interpret the estimated coefficient of gdp_per_capita. Using the regression results, predict the number of total_deaths_per_million for Australia (with gdp being 44.64871 and total deaths per million being 122946.616 ) and compare your prediction with the actual number of total_deaths_per_million observed for Australia (198.967). Using the estimated model, test whether the coefficient of gdp_per_capita is statistically significant at 1% level of significance
| SUMMARY OUTPUT | ||||||||
| Regression Statistics | ||||||||
| Multiple R | 0.925556449 | |||||||
| R Square | 0.856654741 | |||||||
| Adjusted R Square | 0.852499806 | |||||||
| Standard Error | 0.629556433 | |||||||
| Observations | 72 | |||||||
| ANOVA | ||||||||
| df | SS | MS | F | Significance F | ||||
| Regression | 2 | 163.4334357 | 81.7167178 | 206.177649 | 7.8564E-30 | |||
| Residual | 69 | 27.34754985 | 0.3963413 | |||||
| Total | 71 | 190.7809855 | ||||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
| Intercept | 4.929827411 | 0.330355242 | 14.9228067 | 2.7426E-23 | 4.27078674 | 5.58886809 | 4.27078674 | 5.58886809 |
| gdp_per_capita | 0.032793643 | 0.004057445 | 8.08233731 | 1.4132E-11 | 0.02469926 | 0.04088802 | 0.02469926 | 0.04088802 |
| log(total deaths per million) | 0.832472976 | 0.049339123 | 16.872472 | 3.4659E-26 | 0.73404412 | 0.93090183 | 0.73404412 | 0.93090183 |
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