a. b 1 is an estimate of the change in population for a 1-unit increase in media

Question

a. b1 is an estimate of the change in population for a 1-unit increase in median salary while employment rate and median cost of a three bedroom home are held constant. b. b1 is an estimate of the change in employment rate for a 1-unit increase in population. c. b1 is an estimate of the change in population for a 1-unit increase in employment rate, a 1-unit increase in median salary and a 1-unit increase in median cost of a three bedroom home. d. b1 is an estimate of the change in population for a 1-unit increase in employment rate while median salary and median cost of a three bedroom home are held constant. What is the interpretation of b in the estimated multiple regression equation 3.6 +.2x, +1.5x. 29x. which describes how the population of a city is determined by the employment rate (1), the median salary (2) and the median cost of a three-bedroom home (3)?

Explanation / Answer

From the given regression line ,

The interpretation of b1 is given by ,

b1 is an estimate of the change in population for a 1-unit increase in employment rate while median salary and median cost of a three bedroom home are held constant

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