Interpreting Regression Output

Step-by-step instructions for interpreting regression results. A short booklet, with several "cheat sheets" with interpretation short-cuts.

Sample

The books conceptually explains the interpretation of output and the checking for the breakdown of classical assumptions.
It also has short tables that permit easy reference to the many rules and guidelines in the interpretation process.

One example is shown in the next table
Summary of impact of a breakdown of a classical assumption on the reliability with which output can be interpreted.

Impact
Violation	F	R²	Beta	Std Error (of estimate)	Std Error (of Beta)	T
Measurement error in dependent variable	None	None	None	None	Biased Up	Biased Down
Measurement error in independent variable	Biased	Biased	Biased	Biased	Biased	Biased
Irrelevant variable	None	None	None	None	Biased Up	Biased Down
Omitted variable	Biased	Biased	Biased	Biased	Biased	Biased
Incorrect functional form	Biased	Biased	Biased	Biased	Biased	Biased
Heteroskedasticity	Biased	None	None	Biased	Biased	Biased
Collinearity	None	None	None	None	Biased Up	Biased Down
Simultaneity Biased	Biased	Biased	Biased	Biased	Biased	Biased

Legend for understanding the table:
None - The statistic is still reliable and unbiased
Biased -The statistic is Biased, and cannot be relied
Down - Downward Bias (calculated statistic is an underestimate of the true and unbiased estimate of the statistics)
Up - Upward Bias (calculated statistic is an overestimate of the true and unbiased estimate of the statistics)

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