Question

Asked Nov 2, 2019

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How to provide statistical interpretation of the coefficient, standard error, t-stat and p value of a variable.

Step 1

**Regression Coefficient:**

The regression coefficient corresponding to a given explanatory variable can be interpreted as the amount of change in the response variable for unit increase in the explanatory variable, when all the other explanatory variables are remaining constant.

Step 2

**Standard Error:**

The standard error of an explanatory variable can be interpreted as the average distance between the observed values and the regression line.

Step 3

*t-***statistic:**

The *t-*statistic of an explanatory variable can be interpreted as the ratio of...

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