The exercise involving data in this and subsequent sections were designed to be

Question

The exercise involving data in this and subsequent sections were designed to be solved using Excel. The following estimated regression equation is based on 30 observations. X4 The values of SST and SSR are 1,800 and 1,760, respectively. a. Compute R2 (to 3 decimals). b. Compute Ra (to 3 decimals). c. How good is the fit provided by the estimated regression equation? - Select your answer - The estimated regression equation provided an excellent fit The estimated regression equation provided a moderately good fit The estimated regression equation did not provide a good fit

Explanation / Answer

a)as we know that R2 =SSR/SST =1760/1800 =0.978

SSE =SST-SSR =1800-1760 =40

here n=30 and p=5 (variables)

hence R2a =1-(SSE/(n-p))/(SST/(n-1)) =1-(40/(30-5))/(1800/(30-1))=0.974

c)

for R2 is very high ; therefore the estimated regression equation provided an excellent ft.

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