Chapter 5

Point and Interval Estimates from a Regression Model

Chapter 5 Preview

When you have completed reading this chapter you will be able to:

• learn to calculate a point estimate based on a ­regression equation.

• understand that this point estimate is the best ­estimate based on regression statistics.

• learn to calculate an approximate 95% confidence interval centered on your point estimate.

• realize that regression with one independent (or causal) variable is quite limited for business applications.

• see that larger models with more causal variables can increase the explanatory power of regression.

• see that larger models with more causal variables can result in more narrow (more precise) approximate 95% confidence intervals.

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