Fill the blank with the statist lence, and no evidence) based on the correct p-

Question

Fill the blank with the statist lence, and no evidence) based on the correct p- ene uoropriate saistial evidence (weak evidence, very strong evidence, strong the p-value takes on a value of less than therefore there is 0.10 0.01 0.05 2. Discuss the predicting power of the model and its goodness of fit based on one of the following bles. The dependent variable is annual sales expressed in $1,000 and the independent variable is years experience. Model R square Adjusted R square Std. Error of the Estimate 0.965 0.97 0.960 4.160 Model Sum of squares df Mean square p-value 196.918 Regression Residual Total 2272.000 21.250 0.000 170.000 2442.000

Explanation / Answer

1. At 95% confidence

2. For the given model both R-squared=097 and adjusted R-squared=0.96 are very high. Hence they are indicating that the model is very well fitted. Also in the 2nd table very small p-value of F-statistic indicating the very high significance of the the independent variable in the model. Using both the tables, we can say that model is very good fit and has high predictive power.

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