2.5 Statistical Inference

In this section, you learn how to:
  • Conduct a hypothesis test for a regression coefficient using either a rejection/acceptance procedure or a p-value
  • Interpret the t-ratio of a slope in terms of the correlation coefficient
  • Calculate and interpret a confidence interval for a regression coefficient
  • Calculate and interpret a prediction interval at a specific value of a predictor variable

Video Overview of the Section (Alternative .mp4 Version – 19:44 min)

Having fit a model with a data set, we can make a number of important statements. Generally, it is useful to think about these statements in three categories: (i) tests of hypothesized ideas, (ii) estimates of model parameters and (ii) predictions of new outcomes.

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