Evaluate adjusted R2.
The adjusted R2 is 0.02536909. It indicates that approximately 78% of the variation in the demand for jet fuel across states is explained by the three independent variables–price, state GDP, and state population. assist use the Student t-Value Calculator:http://www.danielsoper.com/statcalc3/calc.aspx?id=10
The degrees of freedom are 48, and the probability is 0.05. The critical value is approximately 2. If the absolute value of the t-statistic is greater than 2, the null hypothesis can be rejected. The P-value results can be used to determine whether to reject each of the following hypotheses.