Make sure to include the unit of the values whenever appropriate.
Hint: The variables are available in the gapminder data set from the gapminder package. Note that the data set and package both have the same name, gapminder.
Hint: Your answer must include a discussion on the p-value.
Yes, the coefficient is statistically significant at 5% because the p value is smaller than 1%
Hint: Discuss both its sign and magnitude.
The coefficient of gdpPercap is .00076488, meaning as gdpPercap increases by $1, the life expectancy increases by .00076488 years.
Hint: Provide a technical interpretation.
The intercept value is 53.955, meaning if you are born with a $0 gdpPercap, life expectancy has to be 53.95 years
Hint: This is a model with two explanatory variables. Insert another code chunk below.
Hint: Discuss in terms of both residual standard error and reported adjusted R squared.
The second model is better because there are less errors
Hint: Discuss both its sign and magnitude.
The coefficient of year is 17 years, the sign is positive.
Hint: We had this discussion in class while watching the video at DataCamp, Correlation and Regression in R. The video is titled as “Interpretation of Regression” in Chapter 4: Interpreting Regression Models.
The predicted life expectancy would be about 76 years
Hint: Use message, echo and results in the chunk options. Refer to the RMarkdown Reference Guide.