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Conduct a Regresssion Analysis

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The regression analysis below relates US annual energy consumption in trillions of BTUs to the independent variable "US Gross Domestic Product (GDP) in trillions of dollars."

Which of the following is the lowest level at which the independent variable is significant?

Energy Consumption and GDP
Source

0.94
0.10
0.05
0.01

Which of the following statements is true?

Energy Consumption and GDP
Source

The y-intercept of the regression line is 62,695 trillion BTUs.
The x-intercept of the regression line is $62,695 trillion.
In the event that a thermonuclear war completely halts all economic activity and the US GDP drops to zero, energy consumption will sink to 62,695 trillion BTUs.
None of the above.

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Solution Summary

This solution consists of details of conducting a regression analysis by Excel.

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Null hypothesis H0: rho=0
Alternative hypothesis ha: rho is not equal to 0 ---- It means there is a significant relationship between variables.

The following table was obtained by using EXCEL. You can see it in the Sheet 1.

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SUMMARY OUTPUT

Regression Statistics
Multiple R 0.970868872
R Square 0.942586368
Adjusted R ...

Solution provided by:
Changping Wang, MA
Education
  • BSc , Wuhan Univ. China
  • MA, Shandong Univ.
Recent Feedback
  • "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
  • "excellent work"
  • "Thank you so much for all of your help!!! I will be posting another assignment. Please let me know (once posted), if the credits I'm offering is enough or you ! Thanks again!"
  • "Thank you"
  • "Thank you very much for your valuable time and assistance!"
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