Rank the estimates of the coefficients in descending order of their precision; t
ID: 3292443 • Letter: R
Question
Rank the estimates of the coefficients in descending order of their precision; that is, from most precise to least precise. What measure did you use to create this ranking? Which estimate is most precise? Which estimate is least precise?
Model B
. regress y x Bedrooms Baths Age Pool Waterfront
Source | SS df MS Number of obs = 1,080
-------------+---------------------------------- F(6, 1073) = 438.65
Model | 210.892988 6 35.1488314 Prob > F = 0.0000
Residual | 85.979378 1,073 .080129896 R-squared = 0.7104
-------------+---------------------------------- Adj R-squared = 0.7088
Total | 296.872366 1,079 .275136577 Root MSE = .28307
------------------------------------------------------------------------------
y | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
x | .761261 .0353373 21.54 0.000 .691923 .830599
Bedrooms | -.059842 .0174668 -3.43 0.001 -.0941148 -.0255691
Baths | .2333383 .0210477 11.09 0.000 .192039 .2746376
Age | -.0054627 .0005296 -10.31 0.000 -.0065019 -.0044234
Pool | .0688156 .0327446 2.10 0.036 .0045648 .1330664
Waterfront | .1839055 .0344828 5.33 0.000 .1162441 .2515669
_cons | 5.775463 .2252819 25.64 0.000 5.33342 6.217507
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Explanation / Answer
Answer:
Rank the estimates of the coefficients in descending order of their precision; that is, from most precise to least precise.
1.X
2.Baths
3.Age
4.Waterfront
5.Bedrooms
6.Pool
What measure did you use to create this ranking?
t value is used.
Which estimate is most precise? Which estimate is least precise?
Most precise is X and least precise is Pool.
Model B
. regress y x Bedrooms Baths Age Pool Waterfront
Source | SS df MS Number of obs = 1,080
-------------+---------------------------------- F(6, 1073) = 438.65
Model | 210.892988 6 35.1488314 Prob > F = 0.0000
Residual | 85.979378 1,073 .080129896 R-squared = 0.7104
-------------+---------------------------------- Adj R-squared = 0.7088
Total | 296.872366 1,079 .275136577 Root MSE = .28307
------------------------------------------------------------------------------
y | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
x | .761261 .0353373 21.54 0.000 .691923 .830599
Bedrooms | -.059842 .0174668 -3.43 0.001 -.0941148 -.0255691
Baths | .2333383 .0210477 11.09 0.000 .192039 .2746376
Age | -.0054627 .0005296 -10.31 0.000 -.0065019 -.0044234
Pool | .0688156 .0327446 2.10 0.036 .0045648 .1330664
Waterfront | .1839055 .0344828 5.33 0.000 .1162441 .2515669
_cons | 5.775463 .2252819 25.64 0.000 5.33342 6.217507
------------------------------------------------------------------------------
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