Exercise 1501 Algorithmic The estimated regression equation

{Exercise 15.01 (Algorithmic)}

The estimated regression equation for a model involving two independent variables and 10 observations follows.

= 32.5986 + 0.7785x1 + 0.2907x2

Interpret b1 and b2 in this estimated regression equation.

b1
_________________

b2
_________________

Predict y when x1 = 180 and x2 = 310 (to 3 decimals).
________

b1: when x1 is increased by 1 unit, predicted value of y increaes by 0.7785, holding x2 fixed

b2: when x2 is increased by 1 unit, predicted value of y increaes by 0.2907, holding x2 fixed

y-hat = 2.5986 + 0.7785*180 + 0.2907*310 = 232.8456