Interpreting regression coefficients

[joshuamiller]

Hi Guys!

I'm new here so I apologise if I'm posting in the wrong area but this looks right to me.

So with my (very) limited knowledge of statistics I am trying to interpret my fixed effect regressions.

My question is really simple to ensure that I correctly state what is going on with my estimation.

So if my regression is producing a positive coefficient for the independent variable X of let's say 0.98 at 1% confidence, would I be correct to say that:

An increase in 1 unit of the independent variable X will increase the average mean of Y by 0.98 units (ceteris paribus)?

 

[jvicens]

Hi there,

Welcome to the forum! It's great to see someone new interested in statistics. To answer your question, yes, you are correct in your interpretation. A positive coefficient for the independent variable X means that as X increases by 1 unit, the average mean of Y will also increase by 0.98 units, assuming all other variables in the model are held constant. This is known as the ceteris paribus assumption. It's important to note that this interpretation is only valid within the range of values that were included in your regression analysis. If you want to make predictions outside of this range, you may need to consider extrapolation or other techniques.

I hope this helps! If you have any other questions about your regression analysis, feel free to post them here and I or another scientist will be happy to help. Good luck with your research!