3.2. Learning Objectives#
Conceptual
After this week, you should be able to:
Understand the equation and interpretation of R-squared and the Root-Mean-Square-Error
Understand the equation for finding the standard error and how to interpret the significance test on the slope
Understand the standard error, t-statistic, and significance level in the regression table.
Discuss regression assumptions.
These points will be covered in the lecture.
Python Skills
We will be working with statsmodels
in Python again. This week, you will learn to:
Explore model assumptions using graphs in Python
Find p-value and significance levels on intercept and slope
Find R-squared and RMSE and interpret