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One economic development strategy suggests that some economies benefit from having government policies that promote growth in manufacturing and growth in exports. A
Country
Growth GDP (Y)
Growth Manufacturing (X1)
Growth Exports (X2)
China
11.88
7.081
13.968
Hong Kong
7.242
10.404
6.448
Japan
10.71
5.7
13.02
Korea
8.73
12.445
15.18
Malaysia
4.557
8.16
9.31
Singapore
6.466
5.723
7.776
Thailand
7.49
7.533
12.032
Mean
8.15
8.15
11.10
A summary of the multiple regression analysis undertaken in Excel is reported below.
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.71724576
R Square
0.51444148
Adjusted R Square
0.27166223
Standard Error
2.14232238
Observations
7
ANOVA
df
SS
MS
F
Significance F
Regression
2
19.4501989
9.72509947
2.11896802
0.23576707
Residual
4
18.3581808
4.58954519
Total
6
37.8083797
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Intercept
4.1438
3.9408
1.0515
0.3524
-6.7976
15.0852
X1
-0.2435
0.3558
-0.6843
0.5314
-1.2314
0.7444
X2
0.5398
0.2676
2.0171
0.1139
-0.2032
1.2828
State the multiple regression model for this data and interpret all the slope coefficients.
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The variable y is Growth GDP, is growth Manufacturing, and the variable is growth Exports.
From the output, the intercept is 4.1438, the coefficient of is -0.2435, and the coefficient of is 0.5398.
The multiple regression model is,
Thus, the multiple regression model is .
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