Study the following Excel regression output for an analysis attempting to predict the number of union members in the

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Project 7 Math 102

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Here the equation of the regression line is,

Number of union members = 20704.3805 – 0.039 *Total employment

Since R2 for this model is 0.636 so 63.6% of the total variability has been explained by the model.

And the F test statistic for overall significance is 26.25 with a p value 0.00012 implying that the model is significant in predicting the dependent variable.

And the t-test statistic for slope is -5.12 with a p-value 0.00012 implying that the independent variable is significant in predicting the dependent variable.

When labor force is 110,000,

The number of union members = 20704.3805 – 0.039*110 = 20661.4805

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