How do I interpret the results of my regression analysis?
An example of an AI chatbot conversation about interpreting regression analysis results.
How do I interpret the results of my regression analysis?
To interpret regression results, focus on coefficients, p-values, and R-squared values. What specific results do you have?
I have a coefficient of 2.5 for my independent variable and a p-value of 0.03.
A coefficient of 2.5 means that for every unit increase in your independent variable, the dependent variable increases by 2.5 units. A p-value of 0.03 indicates that this result is statistically significant at the 0.05 level.
What does R-squared tell me about my model?
R-squared indicates the proportion of variance in the dependent variable that can be explained by the independent variables. A higher R-squared means a better fit.
Is there a way to check for multicollinearity?
Yes, you can check for multicollinearity using the Variance Inflation Factor (VIF). A VIF above 10 suggests high multicollinearity.
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