In your answer, include the output for the estimated model
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In your answer, include the output for the estimated model

Consider the following regression model


Estimate the model using this dataset.

a. Interpret the estimate of beta3.

b. Interpret the R2.

In your answer, include the output for the estimated model.

Hint
Statistics" R2 stands in for the proportion of the variance for dependent variables that are explained by independent variables in regression models. It estimates the extent to which the variance of one variable explains that of a second one. However, it doesn’t indicate whether a is good or bad. More also, it doesn’t tell whether data or predictions are biased."...

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