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The estimated regression equation for a model involving two independent variables and 65 observations is:
yhat = 55.17+1.1X1 -0.153X2
Other statistics produced for analysis include: SSR = 12370.8, SST = 35963.0, Sb1 = 0.33, Sb2 = 0.20. (16 points)
1. Interpret b1 and b2 in this estimated regression equation
2. Predict y when X1 = 65 and X2 = 70.
3. Compute R-square and Adjusted R-Square.
4. Comment on the goodness of fit of the model.
5. Compute MSR and MSE.
6. Compute F and use it to test whether the overall model is significant using a p-value (α = 0.05).
7. Perform a t test using the critical value approach for the significance of β1. Use a level of significance of 0.05.
8. Perform a t test using the critical value approach for the significance of β2. Use a level of significance of 0.05.
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