Fill in the blanks with an appropriate naswer:
1. Thirty data points on Y and X are employed to estimate the parameters in the linear relation Y = a + bX. The computer output from the regression analysis is
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DEPENDENT VARIABLE: Y R-SQUARE F-RATIO P-VALUE ON F
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OBSERVATIONS: 30 0.3301 13.79 0.0009
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VARIABLE PARAMETER STANDARD T-RATIO P-VALUE
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ESTIMATE ERROR
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INTERCEPT 93.54 46.210 2.02 0.0526
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X -3.25 0.875 -3.71 0.0009
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a. The equation of the sample regression line is Yˆ = _________________.
b. There are ______ degrees of freedom for the t-test. At the 1% level of significance, the critical t-value for the test is ______________.
c. At the 1% level of significance, aˆ __________ (is, is not) significant, and bˆ ________ (is, is not) significant.
d. At the 2% level of significance, the critical t-value for a t-test is ___________. At the 2% level of significance, ˆ a ____________ (is, is not) significant, and bˆ ____________ (is, is not) significant.
e. The p-value for bˆ indicates that the exact level of significance is ______ percent, which is the probability of _________________________________
f. At the 1% level of significance, the critical value of the F-statistic is __________. The model as a whole ______________(is, is not) significant at the 1% level.
g. If X equals 500, the fitted (or predicted) value of Y is __________________.
h. The percentage of the total variation in Y not explained by the regression is ______________ percent.
i. Explain why it is necessary to assess the statistical significance of the parameter estimates.