Suppose You Regress the Number of Days That Individuals Report

Essay

Suppose you regress the number of days that individuals report having hunted in the past year on years of education and that you get the results in Figure 5.3. SUMMARY OUTPUT

$\begin{array}{lc}\hline \text { Regression Statistics } & \\\hline \text { Multiple R. } & 0.069296763 \\\text { R. Square } & 0.004802041 \\\text { Adjasted R Square } & 0.004749178 \\\text { Standard Error } & 9.950755489 \\\text { Observations } & 18828 \\\hline\end{array}$

$\begin{array}{l}\text { ANOVA }\\\begin{array}{lccccc}\hline & d f & S S & \text { MS } & F & \text { Significance F } \\\hline \text { Regression } & 1 & 8994.697853 & 8994.697853 & 90.83944446 & 1.74217 \mathrm{E}-21 \\\text { Residual } & 18826 & 1864104.11 & 99.0175348 & & \\\text { Total } & 18827 & 1873098.808 & & & \\\hline\end{array}\end{array}$

$\begin{array}{lcccccc}\hline & \text { Coefficients } & \text { Standard Error } & t \text { Stat } & \text { P-value } & \text { Lower 95\% } & \text { Upper 95\% } \\\hline \text { Intercept } & 6.8799 & 0.4320 & 15.9260 & 0.0000 & 6.0331 & 7.7266 \\\text { Years of Education } & -0.2969 & 0.0312 & -9.5310 & 0.0000 & -0.3580 & -0.2358 \\\hline\end{array}$
$\text { Figure } 5.3$
What would you conclude about the statistical significance of the estimated sample regression function? The estimated intercept? The estimated slope coefficient? Explain.