which of these three models do you prefer? Briefly explain why. 1. prate = 80.29

ID: 1202238 • Letter: W

Question

which of these three models do you prefer? Briefly explain why.

1. prate = 80.29 + 5.44mrate + 0.269age - 0.00013totemp

(.78) (.52) (.045) (.00004)

R2 = .0995 adj R2 = .0978

2. prate = 97.32 + 5.02mrate + .314age - 2.66ln(totemp)

(1.95) (.51) (.044) (.28)

R2 = .1437 adj R2 = .1421

3. prate = 80.62 + 5.34mrate + .290age -.00043totemp + .00000000039totemp^2

(.78) (.52) (.045) (.00009) (.00000000010)

R2 = .1084 adj R2 = .1060

4. ln(prate) =.81 + .0204mrate + .011age - .747ln(totemp)

(.07) (.0196) (.002) (.011)

R2 = .7782 adj R2 = .7778

I would prefer Model 4. There are 2 reasons:

(1) The R2 value is highest (= 0.7782), signifying the variables can explain 77.82% of the model, indicating a much stronger goodness of fit, and

(2) P-values of each variable is less than 0.05, which indicates that all of them are statistically significant, unlike in other 3 models.

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