ECO301 Southern New Hampshire Demand for Jet Fuel Regression Analysis

Evaluate adjusted R2.

The adjusted R2 is 0.02536909. It indicates that approximately 78% of the variation in the demand for jet fuel across states is explained by the three independent variables—price, state GDP, and state population. assist use the Student t-Value Calculator:

The degrees of freedom are 48, and the probability is 0.05. The critical value is approximately 2. If the absolute value of the t-statistic is greater than 2, the null hypothesis can be rejected. The P-value results can be used to determine whether to reject each of the following hypotheses.