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Business & Marketing
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Essay
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English (U.S.)
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Topic:
Correlation Coefficient: Regression Equation
Essay Instructions:
Answer the following question: The following regression equation
was computed from a sample of 20 observations: Y = 15 – 5X SSE was found to be 100 and SS total was 400. (500 word minimum)
Determine the standard error of estimate; (b) Determine the coefficient of determination;
and (c) Determine the correlation coefficient. Be sure to show work, explain, and verbalize what each of these measures signifies.
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Correlation Coefficient
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Answer the following question: The following regression equation was computed from a sample of 20 observations: Y = 15 – 5X SSE was found to be 100 and SS total was 400.
(a) Determine the standard error of estimate;
- Standard Error is √ SSE/ (n-k)
- Where is the number of sample observations, which is 20
- K is the number of values in the sample, which is 2- as there is one dependent variable and one independent variable
- SSE (error sum of squares) is the measure of unexplained variation or error variation and is represented as the residual in the ANOVA results and is 100
- R square (R2)= SSR/ SST=SSR/ (SSR+SSE)
- The SSR is SST-SSE=400-100=300
- So R2=300/400=0.75
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