Interpret the r2 b interpret the coefficient on, Business Economics

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Interpret the r2 b interpret the coefficient on

Given the following regression equation with t-statistics in parentheses:

Salary = 566,400 + 71,928 Goals + 20,403 Assists + 98,430 All-Star (3.45) (2.96) (3.5) (1.30)

R2 = 0.95

Salary = NHL Salary in $

Goals = Number of career goals

Assists = Number of career assists

All-Star = 1 if All-Star in the previous season, 0 otherwise.

(a) Interpret the R2. (b) Interpret the coefficient on All-Star.

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