Concept explainers
A
In the print-out of results, the square of the
- Explain in terms specific to this analysis (i.e., not just general terms) what this R-squared tells us.
Response:ln_Income
Explanatory: Age
Residuals:
Min 1Q
-0.83978. -0.28834 -0.05761 0.25615 1.09741
Coefficients:
Estimate Std. Error t value Pr(>|t|)
(Intercept) 9.680077 0.158362 61.13 < 2e-16 ***
samp_reg$Age 0.016778 0.003995 4.20 5.76e-05 ***
---
Residual standard error: 0.4012 on 101 degrees of freedom
Multiple R-squared: 0.1487, Adjusted R-squared: 0.1403
F-statistic: 17.64 on 1 and 101 DF, p-value: 5.763e-05
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