Answer to Question #275126 in Economics for Mariam

Question

Consider the following estimated OLS regression capturing relationship between weight loss and distance walked (values in round brackets are the estimated t-statistics): 𝑤𝑒𝑖𝑔̂ℎ𝑡 = −0.65 − 8.2 ln(𝑤𝑎𝑙𝑘) + 0.35𝑐𝑎𝑙𝑜𝑟𝑖𝑒 (-9.028) (-3.04) (6.604) 𝑅̅ 2 = 0.53 where weight is person’s weight in kilograms, walk is distance walked in km per day, calorie is number of calories consumed in thousands per day 

iii. Comment on 𝑅̅ 2. Is it too “low”? 

Answer 1

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