Answer to Question #52694 in Other Economics for candy
a) Know the relationship between b (regression coefficient), its standard deviation, and t-statistic. Using the equation, be able to calculate the unknown third component given values for the other two components.
b) Know the relationship between R2, ESS, RSS, and TSS. Using the equation, be able to calculate the value of the unknown component given values for the other components.
How large is large? Your regression software compares the t statistic on your variable with values in theStudent's t distribution to determine the P value, which is the number that you really need to be looking at. The Student's t distribution describes how the mean of a sample with a certain number of observations (your n) is expected to behave.
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